Ardelyx Shrugs Off 'Mixed' Q4 Earnings

Summary

• Shares tanked 16% within the first 18 minutes of the press release, and dipped even lower in pre-market trading.
• Market sentiment was countered by bullish stances from at least four firms. Yet Wall Street continues to be oblivious, with only one of them mentioning XPHOZAH revenue contributions.
• UpToDate, the leading clinical decision tool for most doctors, supports the use of XPHOZAH.
• The nation’s top insurer, cost-conscious Kaiser Permanente, is spearheading the charge to provide broad access for XPHOZAH.
• In recent, near-unanimous positive vote for H.R. 5074, many members of Congress back the continuation of Medicare coverage for XPHOZAH.

Koh Sze Kiat/E+ via Getty Images

On January 8, Ardelyx (NASDAQ:ARDX) provided a surprise business update. The stock surged that day to $8.18 (+33%) after management proclaimed that lead product IBSRELA (tenapanor for irritable bowel syndrome with constipation [IBS-C]) would corner 10% market share

Analyst’s Disclosure:I/we have a beneficial long position in the shares of ARDX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.