Ardelyx , Inc. ARDX had one of the the highest the out of the money call options, due to the fact they plan to launch IBSRELA, the company's FDA approved treatment for irritable bowel syndrome with constipation (IBS-C) in adults, in the second quarter of 2022, that has a potential peak in revenue greater than 500mil per year.
Since ARDX’s Market Cap is only 191.663Mil, it has still a big upside potential. A decent 9X revenue means a potential 4.5 Billion market cap.
That`s why in the last 2 days we saw volumes higher than 100Mil.
Recently, on 11/30/2021, Yigal Nochomovitz from Citigroup Boosted the Price Target from Positive to Buy increasing the price target from $7.00 to $13.00. The price of the stock is now 1.7usd.