Raymond James analyst Christopher Raymond raised the firm’s price target on Ardelyx (ARDX) to $19 from $16 and keeps a Strong Buy rating on the shares after what the firm describes as “a uniformly positive update ahead of a key competitor conference next week.” With management guiding FY26 Ibsrela revenue to $410M-$430M and FY29 Ibsrela revenue to $1B, the firm thinks “a meaningful re-rating of the stock may be in store,” the analyst tells investors.
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