Raymond James raised the firm’s price target on Ardelyx (ARDX) to $12 from $11 and keeps an Outperform rating on the shares. The substantial consensus beat and return to quarter over quarter growth suggests unfavorable Q1 seasonality is likely to remain prominent in out years, but also de-risks Ibserla guidance as well as the peak sales target for Xphozah, the analyst tells investors in a research note.
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