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Fly News Breaks for December 3, 2019
Dec 3, 2019 | 10:55 EDT
Ardelyx's topline results from the Phase 3 Phreedom trial were positive, with the study hitting the key primary endpoint of phosphate lowering, Piper Jaffray analyst Christopher Raymond tells investors in a research note. The analyst says that while concern is likely over the higher than anticipated 16% discontinuation rate due to diarrhea, he continues to view the previously disclosed safety data from the Phase 3 Amplify as better representative of real-world results, which saw a discontinuation rate of just 2.6%. With another positive trial, the analyst continues to view tenapanor's path to approval as "significantly derisked." He remains a buyer of Ardelyx shares with an Overweight rating and $15 price target. The stock in morning trading is down 3% to $6.97.
News For ARDX From the Last 2 Days
Dec 1, 2021 | 09:40 EST
Unusual total active option classes on open include: Ardelyx (ARDX), Arbutus Biopharma (ABUS), VBI Vaccines (VBIV), Vertex Energy (VTNR), 180 Life Sciences (ATNF), XPeng (XPEV), Li Auto (LI), Altimeter Growth Corp (AGC), Cameco (CCJ), and Merck (MRK).
Nov 30, 2021 | 10:39 EST
Piper Sandler analyst Christopher Raymond keeps a Neutral rating on Ardelyx, with a price target of $4, following management's announced plans to launch Ibsrela in IBS-C. FDA approved Ibsrela back in September, 2019, but the opportunity was shelved as management had indicated the undifferentiated clinical profile, coupled with the large expense of launching in this market required that Ardelyx find a partner, the analyst adds. Raymond understands investors may be skeptical of this sequence of events. That said, he is "willing to listen" and thinks it makes sense to do some of his own work on this opportunity.