Replies to post #1823 on Ardelyx Inc (ARDX)

[Whalatane]

$ARDX -

(Bloomberg) -- Ardelyx shares are up as much as 11%, the most intraday since May. Jefferies analyst Dennis Ding says an update on the firm's ongoing lawsuit with the US government, could be a reason for the stock's move.
-Last year, Ardelyx sued the US Department of Health and Human Services and the Centers for Medicare and Medicaid Services (CMS) over how the company's drug for kidney-dialysis patients, Xphozah, might be reimbursed.
-A federal judge ruled against the drugmaker in November
-Ding says there was an update on the firm's appeal, "which we've been flagging as a significant call option not in buyside expectations"
-Says a new court docket update set Sep. 25 as the date for oral arguments
-A positive appeals decision by year-end "could restore Part D for Xphozah and add back a large growth driver for the stock"
-"Expectations for Xphozah are zero right now, which makes this a very interesting call option"
-Maintains buy rating on ARDX, PT $8

ARDX has 11 buys, 1 hold, 0 sells; avg PT $10.73: data compiled by Bloomberg

Kiwi

[Whalatane]

Did you keep ARDX ...great qty results especially for Ibserla

Kiwi