Ardelyx’s (ARDX) Outperform Rating Reaffirmed at Wedbush

Ardelyx is a biopharmaceutical company that specializes in developing and commercializing innovative treatments for rare diseases. The company's lead product, Tenapanfibronate, is an oral treatment for patients with cystic fibrosis (CF) who are unable to tolerate or absorb other available CF therapies.

On Friday morning, Wedbush reaffirmed its outperform rating on shares of Ardelyx NASDAQARDX. This means that the firm believes that the stock is undervalued and has the potential for significant growth in the future. In addition to this, Wedbush also set a target price of $13.00 per share for the company's stock.

It's worth noting that other equities analysts have also recently commented on Ardelyx's stock. HC Wainwright, another firm, lifted its price objective on the stock to $25.00 per share. This indicates that the firm believes that the stock is undervalued and has significant growth potential.

Overall, the reaffirmation of the outperform rating by Wedbush and the lifting of the price objective by HC Wainwright are positive signs for Ardelyx's stock. These firms believe that the company's lead product, Tenapanfibronate, has significant potential to treat patients with CF who are unable to tolerate or absorb other available therapies. Additionally, the company is also working on developing other treatments for rare diseases, which could further drive growth in the future.