Leerink Partners Maintains a Buy Rating on Ardelyx (ARDX) With a $10 PT

Ardelyx Inc. (NASDAQ:ARDX) is one of the 13 Best Long-Term Penny Stocks to Buy According to Analysts. On May 2, Leerink Partners analyst Roanna Ruiz reiterated a Buy rating on Ardelyx Inc. (NASDAQ:ARDX) and set a price target of $10.00. The optimistic rating was based on the company’s solid commercial execution in spite of the challenges it faced in Q1. These included the loss of Medicare Part D coverage for Xphozah and the seasonal contraction in the IBS-C market.

An aerial view of a pharmaceutical facility, showing the size and scale of the company’s operations.

The analyst reasoned that Ardelyx Inc. (NASDAQ:ARDX) maintained its guidance for Ibsrela, reflecting solid momentum with anticipated revenues for 2025 between the $240 to 250 million range. Another factor supporting the rating is the management’s effective navigation of the Medicare Part D transition for Xphozah.

Management also reaffirmed the long-term peak sales targets for Ardelyx Inc. (NASDAQ:ARDX), supporting them with growth drivers such as an expanded sales force and increased clinical conviction among prescribers.

Ruiz further reasoned that the company’s robust cash position justifies the buy rating, as it offers flexibility for continued business development opportunities and commercial investment.

Ardelyx Inc. (NASDAQ:ARDX) develops and commercializes biopharmaceutical products. It is also involved in the development of an innovative platform that discovers new biological mechanisms and pathways to develop efficacious therapies, reducing the drug-drug interactions and side effects of traditional medicines.

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