ARDX - Ardelyx falls as downgraded to Neutral at Cantor Fitzgerald

Cantor Fitzgerald analyst Louise Chen downgraded Ardelyx (ARDX -6.4%) to Neutral from Overweight with a $1 price target, down from $7. Chen sees increasing execution and competitive risks for the launches of Tenapanor in both Irritable Bowel Syndrome With Constipation and hyperphosphatemia. Since the start of 2022, Ardelyx shares fell around 34%, and over a period of one year, shares were down around 88%. Wall Street analysts stand with a Buy rating on the stock and Seeking Alpha Quant Rating says to Buy too.

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Ardelyx falls as downgraded to Neutral at Cantor Fitzgerald