10 Best Small-Cap Stocks Ready to Explode in 2026

4. Ardelyx, Inc. (NASDAQ:ARDX)

Market Cap: $1.92 billion

Upside: 60.88%

Number of Hedge Fund Holders: 30

​Ardelyx, Inc. (NASDAQ:ARDX) is one of the Best Small Cap Stocks Ready to Explode in 2026. On January 27, Dennis Ding from Jefferies reiterated a Buy rating on the stock and raised the price target from $8 to $15. Earlier, on January 9, Julian Harrison from BTIG reiterated a Buy rating on Ardelyx, Inc. (NASDAQ:ARDX) and raised the price target from $14 to $17.

​Analysts from BITG noted that the positive sentiment is based on the company’s Ibsrela revenue, which grew 73% year-over-year to $274 million in fiscal 2025 and 10% quarter-over-quarter in Q4 2025 to $87 million.

​Notably, the company projects fiscal 2026 Ibsrela revenue between $410 million and $430 million, indicating 50% to 58% year-over-year growth. Peak sales are expected to exceed $1 billion in 2029. BTIG noted that the company ended fiscal 2025 with $265 million in cash. The firm believes that Ardelyx, Inc. (NASDAQ:ARDX) has a robust commercial portfolio and a strong pipeline.

​Similarly, Citi analyst Yigal Nochomovitz on January 8 also raised the price target from $11 to $14, with a Buy rating. The analyst noted that the management’s expectation to reach $1 billion by 2029 exceeds Citi’s estimates, hence the price target update.

​Ardelyx Inc. (NASDAQ:ARDX) discovers, develops, and commercializes medicines to treat unmet medical needs internationally. It offers IBSRELA, which is a minimally absorbed small molecule therapy for patients with IBS with constipation. It also offers XPHOZAH, which is a phosphate absorption inhibitor for adults with chronic kidney disease on dialysis.