H.C. Wainwright assumes coverage on Ardelyx stock with buy rating

H.C. Wainwright assumed coverage on Ardelyx, Inc (NASDAQ:ARDX) Wednesday with a buy rating and a $10.00 price target, citing the company’s successful commercialization of its bowel and kidney disease treatments. The price target sits within the broader analyst range of $8-15, with InvestingPro data showing the stock is currently trading at $3.55.

The research firm highlighted Ardelyx’s demonstrated approval and commercial execution with IBSRELA for irritable bowel syndrome with constipation in adults and XPHOZAH for treating hyperphosphatemia in adults with chronic kidney disease on dialysis.

H.C. Wainwright noted IBSRELA achieved $44.4 million in net product sales during the first quarter of 2025, representing year-over-year growth of approximately 57%. The company expects full-year 2025 IBSRELA net product sales in the U.S. between $240 million and $250 million.

XPHOZAH generated $23.4 million in net product sales in the first quarter of 2025, reflecting 30% year-over-year growth, according to the research firm’s report.

The firm also pointed to pipeline expansion opportunities, including the Phase 3 R-ALLY trial of tenapanor for IBS-C in pediatric patients ages 12 to under 18 years old and the dose-ranging Phase 2 Mobilize Study for IBS-C in pediatric patients ages 6 to under 12 years old.

In other recent news, Ardelyx Inc . reported its first-quarter 2025 earnings, revealing a net loss of $0.17 per share, which was a larger loss than the forecasted $0.11 per share. The company generated $74.1 million in revenue, falling short of the expected $78.09 million. Despite this, Ardelyx saw a 61% increase in revenue year-over-year, driven by strong sales of its key products, IBSRELA and XPOVIO. Meanwhile, Raymond (NSE:RYMD) James downgraded Ardelyx’s stock rating from "Strong Buy" to "Outperform" and reduced the price target from $13.00 to $11.00, citing weaker-than-expected net sales and increased spending.

Ardelyx also presented new data on IBSRELA at the Digestive Disease Week Conference, highlighting its benefits for patients with irritable bowel syndrome with constipation. The company shared findings on the financial burden of IBS-C and reported no serious adverse events in ongoing studies. Additionally, Ardelyx announced key executive appointments, promoting Mike Kelliher to Chief Business Officer and hiring James P. Brady as Chief Human Resources Officer to support ongoing expansion.

The company remains optimistic about future prospects, maintaining its 2025 sales guidance for IBSRELA at $240 million to $250 million and projecting peak sales of $750 million for XPOVIO. Ardelyx’s management expressed confidence in its commercialization strategies, despite challenges such as the loss of Medicare coverage for XPOVIO. These developments reflect Ardelyx’s ongoing efforts to strengthen its market position and address unmet medical needs.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.