Information Provided By:
Fly News Breaks for April 8, 2019
ARDX
Apr 8, 2019 | 05:03 EDT
Piper Jaffray analyst Christopher Raymond started Ardelyx with an Overweight rating and $15 price target. The analyst sees a "sizeable disconnect" between Wall Street's view of tenapanor's potential versus that of the nephrology community. While the drug is not fully de-risked, there is enough data to get a "strong sense" of tenapanor's ultimate clinical profile, which confers $1B-plus revenue potential, Raymond tells investors in a research note. Nephrologists appear "fully aware of this drug's potential with swift and dramatic uptake projected if approved," adds the analyst. He thinks tenapanor's launch is "poised to be one of biotech's great product launches of 2021."
News For ARDX From the Last 2 Days
ARDX
Mar 26, 2024 | 14:26 EDT
Bullish option flow detected in Ardelyx with 3,829 calls trading, 1.1x expected, and implied vol increasing over 4 points to 96.18%. Apr-24 9 calls and 3/28 weekly 7.5 calls are the most active options, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 0.13. Earnings are expected on May 1st.