10 Penny Stocks That Will Skyrocket

4. Ardelyx Inc. (NASDAQ:ARDX)

Stock Upside Potential as of July 30: 148.24%

Share Price as of July 30: $4.34

Number of Hedge Fund Holders: 28

Ardelyx Inc. (NASDAQ:ARDX) is one of the penny stocks that will skyrocket. On July 7, analysts at Cantor Fitzgerald reiterated an ‘Overweight’ rating on the stock. The positive stance stems from expectations that the company is well-positioned for robust growth, backed by its flagship product, Ibsrela.

Cantor Fitzgerald expects Ibsrela to exceed consensus sales expectations in the second quarter. The research firm expects Ardelyx to deliver $64 million in sales, significantly higher than the $57 million consensus estimate. Amid the expected robust sales growth, the research firm views the 2025 Ibsrela guidance of $240-$250 million as conservative, given the strong prescription trends.

While Xphozah, another flagship product, is expected to miss sales estimates, Cantor Fitzgerald anticipates that it will have a limited impact on current valuation levels. Cantor Fitzgerald maintains that expectations for Xphozah are already lower than consensus.

Ardelyx Inc. (NASDAQ:ARDX) is a biopharmaceutical company focused on discovering, developing, and commercializing innovative first-in-class medicines to address significant unmet medical needs, particularly in kidney and cardiovascular diseases.