Wedbush Maintains Outperform Rating for Ardelyx: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wedbush has reaffirmed its Outperform rating on Ardelyx (NASDAQ:ARDX) and increased its price target from $9.00 to $13.00, implying a potential upside of 48.06% from the current price of $8.78. Ardelyx is a biotech company developing treatments for gastrointestinal and cardiorenal diseases, with tenapanor as its lead product candidate.
January 12, 2024 | 5:00 pm
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Wedbush maintains an Outperform rating on Ardelyx and raises the price target to $13, indicating a significant potential upside from the current trading price.
The reaffirmation of the Outperform rating and the increase in price target by Wedbush are strong positive signals for Ardelyx. This endorsement by a reputable analyst firm could lead to increased investor confidence and a potential short-term rise in ARDX's stock price, especially considering the substantial 48.06% potential upside indicated by the new price target.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100