Ardelyx (ARDX) Stock: $6 Price Target From Ladenburg

By Amit Chowdhry ● Dec 3, 2021
  • The shares of Ardelyx Inc (NASDAQ: ARDX) have received a $6 price target from Ladenburg. These are the details.

The shares of Ardelyx Inc (NASDAQ: ARDX) have received a $6 price target from Ladenburg. And Ladenburg analyst Matthew Kaplan had upgraded Ardelyx to a “Buy” rating from a “Neutral” rating.

Kaplan adjusted the price target and rating after the company had announced plans to launch Ibsrela independently in the U.S. in the second quarter of 2022. And Kaplan believes the product for the treatment of irritable bowel syndrome with constipation (or IBS-C) could generate over $400 million in revenues by 2026. 

Plus Kaplan also pointed out that Ardelyx announced plans to file a Formal Dispute Resolution Request during the fourth quarter to appeal the CRL for tenapanor as a treatment for hyperphosphatemia. And Kaplan forward to the filing of the FDRR and more detail on the path forward for this indication.

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