Why Ardelyx Stock Is Dropping
Portfolio Pulse from Erica Kollmann
Ardelyx, Inc. (NASDAQ: ARDX) shares are trading lower after the company decided not to apply for the inclusion of XPHOZAH in the CMS ESRD PPS Transitional Drug Add-on Payment Adjustment. The decision was based on the potential restrictions that could limit patient access to the drug. Despite this, analysts have a positive outlook on the stock with an average 12-month price target of $14.50.
July 02, 2024 | 3:26 pm
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NEGATIVE IMPACT
Ardelyx shares are down 20.9% after the company decided not to apply for XPHOZAH's inclusion in the CMS ESRD PPS due to potential restrictions on patient access. Despite this, analysts have a positive outlook with a 12-month price target of $14.50.
The decision not to apply for XPHOZAH's inclusion in the CMS ESRD PPS is seen as a negative development, leading to a significant drop in the stock price. However, the positive analyst ratings and price targets suggest potential for recovery.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100