5 Best Long-Term Penny Stocks to Buy Now

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In this article, we will take a look at the 5 best long-term penny stocks to buy now. To see more such companies, go directly to 11 Best Long-term Penny Stocks to Buy Now.

5. Ardelyx, Inc. (NASDAQ:ARDX)

Number of Hedge Fund Holders: 20

Ardelyx, Inc. (NASDAQ:ARDX) shares have gained about 47% year to date through August 10.

Ardelyx, Inc. (NASDAQ:ARDX) recently posted Q2 results. GAAP EPS in the quarter came in at -$0.08 beating estimates by $0.04. Revenue in the quarter jumped 784% year over year to $22.3 million.

As of the end of the first quarter of 2023, 20 hedge funds out of the 943 funds in Insider Monkey’s database reported owning stakes in Ardelyx, Inc. (NASDAQ:ARDX). The biggest stakeholder of Ardelyx, Inc. (NASDAQ:ARDX) was Phill Gross and Robert Atchinson’s Adage Capital Management which owns a $9.82 million stake in the company.

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