Piper Sandler Maintains a Hold Rating on Ardelyx (ARDX)

Ardelyx Inc. (NASDAQ:ARDX) is one of the best strong buy penny stocks to buy now. On July 28, Piper Sandler analyst Allison Bratzel maintained a Hold rating on Ardelyx Inc. (NASDAQ:ARDX) and set a price target of $8.00.

However, BTIG analyst Julian Harrison maintained a Buy rating on Ardelyx Inc. (NASDAQ:ARDX) on July 29, retaining the price target of $14.00.

The analyst based the rating on Ardelyx Inc.’s (NASDAQ:ARDX) market positioning and growth potential, citing the expected growth in Ibsrela’s revenue as a significant factor. Revenue for the product is expected to grow 21% from the previous quarter, and strong growth is expected for the rest of the year.

Harrison further reasoned that the fact that up to 50% of IBS-C patients do not respond adequately to existing treatments leaves a gap that can be filled by Ibsrela, further bolstering its market opportunity.

Ardelyx Inc. (NASDAQ:ARDX) develops and commercializes biopharmaceutical products. It is also involved in the development of an innovative platform that discovers new biological mechanisms and pathways to develop efficacious therapies, reducing the drug-drug interactions and side effects of traditional medicines.

While we acknowledge the potential of ARDX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.