Using a Revenue DCF model with operating margin convergence from -10.1% to a target of 13.3% over 5 years, discounted at a WACC of 9.0%, Ardelyx, Inc. (ARDX) has an intrinsic value of $14.81 per share (range: $3.26 – $40.71).
Using a Revenue DCF model with operating margin convergence from -10.1% to a target of 13.3% over 5 years, discounted at a WACC of 9.0%, Ardelyx, Inc. (ARDX) has an intrinsic value of $5.28 per share (range: $0.89 – $14.43).
Using the industry peer median EV/Revenue multiple (trailing + forward), Ardelyx, Inc. (ARDX) has a fair value of $30.50 based on 6 comparable companies in the Biotechnology industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing EV/Revenue | Forward EV/Revenue | |
|---|---|---|---|
| Ardelyx, Inc.ARDX | 1,634 | 4.4x | 3.3x |
| Zymeworks Inc. | 1,976 | 18.4x | 6.6x |
| Stoke Therapeutics, Inc. | 1,940 | 10.1x | 10.1x |
| BioCryst Pharmaceuticals, Inc. | 1,809 | 2.5x | 3.3x |
| Intellia Therapeutics, Inc. | 1,665 | 23.7x | 26.9x |
| Maze Therapeutics, Inc. | 1,438 | 7.6x | 101.4x |
| Wave Life Sciences Ltd. | 1,393 | 18.9x | 23.6x |
| Industry Median | 14.2x | 16.8x | |
| (*) Revenue | 407 | 545 | |
| = Enterprise Value | 5,804 | 9,187 | |
| (-) Net Debt | 144 | 144 | |
| Equity Value | 5,660 | 9,044 | |
| (/) Outstanding shares | 241 | 241 | |
| Fair Price | $23 | $38 | |
Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.