Ardelyx, Inc (ARDX) PT Raised to $2 at Wedbush, Following Clinical Business Update

Wedbush analyst Laura Chico raised the price target on Ardelyx, Inc (NASDAQ: ARDX) to $2.00 (from $1.00) while maintaining a Neutral rating.

Analyst says: "Management anticipates commercial supply will be available by 2Q22 and will deploy a field force to launch the drug. The move appears to be a stark change in messaging and strategy since Ibsrela was first approved in 2019. Simply put, it is a shift. With ARDX working through the Formal Dispute Resolution process with FDA for tenapanor, advancing Ibsrela has become the more near-term opportunity. Acknowledging this will be a challenging undertaking, we are layering in the Ibsrela launch to our estimates and derive a $2 target (from $1/sh)."

You May Also Be Interested In

• RCM Technologies (RCMT) PT Raised to $45 at Benchmark on Q2 Beat
• Celcuity Inc (CELC) PT Raised to $175 at Guggenheim
• William Blair Downgrades Enovix Corporation (ENVX) to Market Perform