Piper Sandler Sticks to Their Buy Rating for Ardelyx (ARDX)

Piper Sandler analyst Allison Bratzel maintained a Buy rating on Ardelyx today and set a price target of $16.00.

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According to TipRanks, Bratzel is a 5-star analyst with an average return of 56.8% and a 64.66% success rate. Bratzel covers the Healthcare sector, focusing on stocks such as Cogent Biosciences, ALX Oncology Holdings, and Biohaven Ltd..

In addition to Piper Sandler, Ardelyx also received a Buy from BTIG’s Julian Harrison in a report issued on February 20. However, on the same day, TipRanks – Anthropic reiterated a Hold rating on Ardelyx (NASDAQ: ARDX).

Based on Ardelyx’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $125.22 million and a GAAP net loss of $407 thousand. In comparison, last year the company earned a revenue of $116.13 million and had a net profit of $4.65 million

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARDX in relation to earlier this year. Last month, Laura A Williams, the Chief Patient Officer of ARDX sold 50,000.00 shares for a total of $348,500.00.