Wedbush analyst Laura Chico raised the firm’s price target on Ardelyx to $13 from $9 and keeps an Outperform rating on the shares. The analyst updated estimates following the company’s Q4 preannouncement. The firm increased its fiscal 2024 Ibsrela revenue estimate to $151M from $103M. The Xphozah commercial launch will garner substantial attention in 2024 and with market research indicating strong intent to prescribe, Wedbush looks forward to watching the progress, the analyst tells investors in a research note.
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