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Investing.com - Raymond James raised its price target on Ardelyx, Inc (NASDAQ:ARDX) to $15.00 from $14.00 on Tuesday, while maintaining a Strong Buy rating on the biopharmaceutical company’s stock.
The decision follows Raymond James hosting an investor dinner in London last week and receiving feedback from a new Spherix survey of 100 U.S.-based gastroenterologists, which indicated continued strong growth for Ardelyx’s Ibsrela product.
Raymond James noted that management’s bullish commentary, combined with the survey feedback, suggests potential for meaningful upside to consensus estimates in both the near and long term for the company.
While the firm’s estimates for Xphozah remain below peak guidance, Raymond James anticipates a visible inflection for this franchise by 2027 as TDAPA rolls off for binders.
The investment firm also highlighted Ardelyx’s "thoughtful, methodical business development approach" as another positive factor supporting its continued favorable outlook on the company’s direction.
In other recent news, Ardelyx Inc . reported third-quarter 2025 revenue that exceeded expectations, posting $110.3 million in sales against the forecasted $100.48 million. The company maintained its earnings per share forecast at -$0.06. Additionally, Ardelyx presented positive real-world data for its kidney disease drug, XPHOZAH, during the American Society of Nephrology’s Kidney Week in Houston. The study revealed that patients using XPHOZAH experienced an average reduction in serum phosphate levels of nearly 1 mg/dL. Notably, 45.3% of participants achieved a reduction of 1 mg/dL or more, and 25.1% saw reductions of 2 mg/dL or greater. These developments reflect recent progress and insights from Ardelyx’s ongoing efforts in the biopharmaceutical sector.
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