Wedbush raised the firm’s price target on Ardelyx (ARDX) to $14 from $13 and keeps an Outperform rating on the shares. The firm notes Ardelyx posted a solid performance in Q2 with total revenue beating by $16M, driven by Ibsrela strength. Management increased the FY25 Ibsrela guidance range to $250M-$260M and Wedbush thinks this is an achievable bar. Finally, Ardelyx announced multiple leadership changes and CFO Justin Renz will exit the company in the coming months.
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Read More on ARDX:
- Ardelyx price target raised to $12 from $11 at Raymond James
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