Wall Street Analysts See a 92.12% Upside in Ardelyx (ARDX): Can the Stock Really Move This High?

Core Viewpoint - Ardelyx (ARDX) shares have increased by 3.6% recently, closing at $6.09, with analysts suggesting a potential upside of 92.1% based on a mean price target of $11.7 [1] Price Targets - The average of 10 short-term price targets ranges from a low of $8.00 to a high of $16.00, with a standard deviation of $2.71, indicating variability among estimates [2] - The lowest estimate suggests a 31.4% increase from the current price, while the highest estimate indicates a 162.7% upside [2] Analyst Sentiment - Analysts are optimistic about ARDX's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which historically correlate with stock price movements [4][11] - Over the last 30 days, the Zacks Consensus Estimate for the current year has risen by 4.7%, with one estimate increasing and no negative revisions [12] Zacks Rank - ARDX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, suggesting a strong potential for upside [13] Price Movement Implications - While consensus price targets may not be entirely reliable, the direction they imply appears to be a good guide for potential price movement [14]