Ardelyx price target raised to $11.50 from $10.50 at Ladenburg

Ladenburg analyst Matthew Kaplan raised the firm’s price target on Ardelyx to $11.50 from $10.50 and keeps a Buy rating on the shares. The firm continues to be impressed with the launch of IBSRELA and is modeling a 2024 revenue estimate of $144.6M, the analyst tells investors in a research note.