designer491/iStock via Getty Images Ardelyx ( NASDAQ: ARDX ) shares were down over 5% after H.C. Wainwright downgraded the rating for the biopharmaceutical firm, saying that it anticipates a substantial drop in the company's kidney disease drug Xphozah sales in 1Q25 and beyond.
Shares of Ardelyx were trading at $4.79 in the afternoon on.
