Posted 2/22/2024, 3:12:33 AM
Ardelyx Stock Soars 188% in Past Year, Strong Q4 Earnings Expected with New Drug Approvals
- Ardelyx stock is up 188% over the past year and has a Strong Buy rating ahead of its Q4 earnings on February 22
- The company's IBSRELA medication for IBS and chronic kidney disease is projected to reach over $1 billion in peak annual sales
- Ardelyx received FDA approval for its XPHOZAH drug to treat chronic kidney disease in dialysis patients
- Analysts forecast Ardelyx will report a Q4 loss per share of $0.01, better than a year ago loss of $0.06 per share
- With drugs advancing and potential to beat estimates, analysts see further upside for Ardelyx stock over the next 12 months