TD Cowen analyst Joseph Thome maintained a Buy rating on Ardelyx today and set a price target of $10.00.
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Joseph Thome has given his Buy rating due to a combination of factors that highlight Ardelyx’s strong market performance and future potential. The company reported third-quarter product sales that exceeded expectations, with Ibsrela sales notably surpassing consensus estimates. This strong performance has led to an upward revision of the fiscal year 2025 sales guidance, reflecting confidence in continued growth driven by robust patient demand and prescription trends.
Additionally, Ardelyx’s development of a next-generation NHE3 inhibitor, with an investigational new drug application planned for 2026, adds to the company’s growth prospects. Despite some challenges with Xphozah’s Medicare Part D coverage, the company’s overall sales trajectory and strategic initiatives underpin the positive outlook. Consequently, the price target has been raised to $10 per share, supporting the Buy recommendation.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARDX in relation to earlier this year.