Piper Sandler Downgrades Ardelyx, Inc (ARDX) to Neutral, 'Xphozah Outlook Too Uncertain For Us'

Ardelyx, Inc (ARDX) PT Lowered to $10 at Citi

July 3, 2024 7:06 AM EDT

Citi analyst Yigal Nochomovitz lowered the price target on Ardelyx, Inc (NASDAQ: ARDX) to $10.00 (from $14.00) while maintaining a Buy rating.

The analyst comments "We acknowledge that XPHOZAHs commercial uncertainty is materially increased with todays disclosures on TDAPA strategy (outlined below) and we are thus... More

Ardelyx, Inc (ARDX) PT Lowered to $12.50 at Ladenburg Thalmann

July 3, 2024 6:39 AM EDT

Ladenburg Thalmann analyst Matthew Kaplan lowered the price target on Ardelyx, Inc (NASDAQ: ARDX) to $12.50 (from $14.50) while maintaining a Buy rating.

The analyst comments "We reiterate our Buy rating and lower our price target to $12.50 from $14.50. Based on the increased uncertainty... More

TD Cowen Reiterates Buy Rating on Ardelyx, Inc (ARDX)

July 2, 2024 12:34 PM EDT

TD Cowen analyst Joseph Thome reiterated a Buy rating and $12.00 price target on Ardelyx, Inc (NASDAQ: ARDX).

The analyst commented, "While Ardelyx's decision not to apply for TDAPA was likely a surprise, we also believe the anticipated benefits of a TDAPA period... More

Ardelyx, Inc (ARDX) PT Lowered to $11 at Wedbush

July 2, 2024 12:31 PM EDT

Wedbush analyst Laura Chico lowered the price target on Ardelyx, Inc (NASDAQ: ARDX) to $11.00 (from $15.00) while maintaining a Outperform rating.... More

Ardelyx (ARDX) falls 27% after saying will not apply to include XPHOZAH in CMS ESRD PPS TDAPA

July 2, 2024 8:24 AM EDT

(Updated - July 2, 2024 8:24 AM EDT)

Ardelyx (NASDAQ: ARDX) falls 27% after saying will not apply to include XPHOZAH in CMS ESRD PPS TDAPA

Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize... More

Ardelyx (ARDX) to Not File for TDAPA

July 2, 2024 7:02 AM EDT

Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that, in an effort to preserve patient access to its phosphate absorption inhibitor XPHOZAH® (tenapanor), the Company has chosen not to apply to include XPHOZAH in the Centers for Medicare & Medicaid Services (CMS) End-Stage Renal Disease (ESRD) Prospective Payment System (PPS) Transitional Drug Add-on Payment Adjustment (TDAPA).

Ardelyxs analysis of the CMS policy to include oral-only medicines in the PPS and the Calendar Year 2025... More