Ardelyx, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Roanna Ruiz from Leerink Partners reiterated a Buy rating on the stock and has a $11.00 price target.
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Roanna Ruiz’s rating is based on Ardelyx’s strong financial performance and strategic positioning. The company reported impressive second-quarter results, with total revenue significantly surpassing expectations, primarily driven by the robust performance of Ibsrela and solid execution of Xphozah. The management’s confidence in Ibsrela’s growth trajectory led to an upward revision of the 2025 revenue guidance, indicating a positive outlook for sustained revenue growth.
Moreover, Ardelyx’s strategic initiatives, such as its investment in field access managers, are expected to enhance operational efficiency and improve revenue predictability. The company’s effective commercial strategy, particularly the balanced commercial and Medicaid revenue mix for Xphozah, further validates its approach in a post-Medicare transition environment. These factors, along with the management’s reiterated long-term sales targets, underpin Roanna Ruiz’s Buy rating and the increased price target for Ardelyx’s stock.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $9.00 price target.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is neutral on the stock.