Ardelyx jumps as Piper Sandler highlights strong Ibsrela uptake

Ardelyx

09/01/2026 10:38

** Shares of biotech drug developer Ardelyx ARDX.O rise nearly 2% to $7.15 in premarket trading

** Piper Sandler upgrades stock rating to "overweight" from "neutral"; raises PT to $16 from $10, representing ~128.57% upside to stock's last close

** Cites stronger‑than‑expected momentum for Ibsrela, co's oral treatment for irritable bowel syndrome with constipation, following the company's latest update

** The brokerage said near‑term visibility has improved while management’s revised long‑term outlook pulls forward the product’s path to meaningful scale, which it views as achievable

** Eleven analysts rate the stock "strong buy" on average; median PT is $11 - data compiled by LSEG

** As of last close, ARDX is up ~31% in the past 12 months

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))