Ardelyx (NASDAQ:ARDX) just got a confidence boost from insider buying. Chairman David Mott scooped up 199,000 shares at an average price of $4.99, putting nearly $1 million on the line. The stock is hovering slightly higher at $5.05, but analysts are eyeing much bigger gains, with targets stretching from $5.50 to as high as $15.00. On the business side, Q4 numbers came in strongU.S. sales of Ibsrela hit $54 million, topping expectations. And for 2025, Ardelyx is forecasting Ibsrela revenue between $240 million and $250 million, outpacing analyst projections of $229.6 million.
Financially, the company is holding its ground. It wrapped up 2024 with $319 million in unaudited U.S. net product sales and a solid $250 million in cash and investments. But it's not all smooth sailingMedicare coverage issues for its kidney drug XPHOZAH triggered a downgrade from H.C. Wainwright, moving the stock from Buy to Neutral. In response, Ardelyx is staying aggressive, pushing legislative efforts with the Kidney Patient Act while ramping up its IBSRELA sales force to keep momentum alive.
Despite the headwinds, some analysts aren't backing down. Jefferies is still bullish, pointing to Ardelyx's proactive management and strategic pivots as reasons for optimism. With multiple analysts revising earnings estimates upward and management sharpening its commercial playbook, investors are watching closely to see if this biotech name can push through the noise and unlock its full upside potential.
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