Ardelyx shares are trading higher after the company on Monday provided an update on its progress in 2023 and initial expectations for 2024. Raymond James raised its price target on the stock from $12 to $15.
Portfolio Pulse from Benzinga Newsdesk
Ardelyx, Inc. shares have seen an increase following the company's update on its 2023 progress and outlook for 2024. Additionally, Raymond James has upgraded the price target for Ardelyx from $12 to $15.
January 09, 2024 | 4:55 pm
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POSITIVE IMPACT
Ardelyx's stock is experiencing an uptick due to positive company updates and a raised price target by Raymond James from $12 to $15.
The positive progress report for 2023 and optimistic expectations for 2024 are likely to instill confidence in investors, leading to a short-term positive impact on Ardelyx's stock price. The increase in the price target by Raymond James further validates the company's potential and is a strong signal to the market, likely resulting in upward price movement.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100