Ardelyx (ARDX) Stock Receives $8 Price Target

By Amit Chowdhry ● Nov 23, 2022
  • The shares of Ardelyx (ARDX) recently received an $8 price target. These are the details.

The shares of Ardelyx (ARDX) recently received an $8 price target.

Price target: Increased from $3 to $8

Rating: Upgraded from “Neutral” to “Overweight”

Analyst firm: Piper Sandler

Piper Sandler analysts adjusted the rating while noting that they are a buyer of the stock to levels approaching $8 following a positive FDA advisory committee vote of 9-4 in favor of tenapanor as monotherapy and 10-2 as combo therapy for the control of serum phosphorus in dialysis-dependent chronic kidney disease.

Going forward, Piper Sandler models a 2023 tenapanor renal approval and launch along with a robust uptake consistent with previous surveying.