Not sure so called "professionals" give a stock an $11.00 price target then the stock drops and then they give it a $2.00?
"Jefferies analyst Chris Howerton downgrades Ardelyx (NASDAQ:ARDX) from Buy to Hold and lowers the price target from $11 to $2."
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9 times out of 10 analysts are preserving/cultivating an IB relationship. This worked forever when there was an army of brokers banging the phones based on these ridiculous "price targets" Ohh, the stories I could tell..