Relypsa Inc (RLYP) was Upgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Underweight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 23, 2016.
Many Wall Street Analysts have commented on Relypsa Inc. Shares were Reiterated by Wedbush on May 9, 2016 to “Outperform” and Lowered the Price Target to $ 51 from a previous price target of $52 .Shares were Downgraded by Mizuho on May 4, 2016 to ” Underperform” and Lowered the Price Target to $ 12 from a previous price target of $22 .Shares were Reiterated by H.C. Wainwright on Apr 26, 2016 to “Buy” and Lowered the Price Target to $ 36 from a previous price target of $63 .
On the company’s financial health, Relypsa Inc reported $-1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on May 4, 2016. Analyst had a consensus of $-1.44. The company had revenue of $12.40 million for the quarter, compared to analysts expectations of $7.10 million. During the same quarter in the previous year, the company posted $-0.78 EPS.
Relypsa Inc opened for trading at $14.13 and hit $15.3 on the upside on Friday, eventually ending the session at $14.96, with a gain of 5.80% or 0.82 points. The heightened volatility saw the trading volume jump to 16,90,898 shares. Company has a market cap of $669 M.
In a different news, on Mar 16, 2016, Kristine M Ball (CFO) purchased 7,000 shares at $12.15 per share price. According to the SEC, on Mar 16, 2016, Thomas J. Schuetz (director) purchased 30,000 shares at $13.39 per share price. On Jan 4, 2016, Wilhelm Stahl (SVP, Chief Technology Officer) sold 20,000 shares at $28.53 per share price, according to the Form-4 filing with the securities and exchange commission.
Relypsa Inc. is a biopharmaceutical company focused on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal cardiovascular and metabolic diseases. The Company’s lead product candidate Patiromer for Oral Suspension (Patiromer FOS) is for the treatment of hyperkalemia a life-threatening condition defined as abnormally elevated levels of potassium in the blood. Its New Drug Application (NDA) for Patiromer FOS was accepted for filing by the United States Food and Drug Administration or FDA. The Company’s NDA is supported by a clinical development program consisting of eight clinical trials: three Phase I trials four Phase II trials and one two-part Phase III trial conducted under a Special Protocol Assessment or SPA. The active ingredient is a cross-linked polymeric bead with a calcium containing counterion. The Company has the global royalty-free commercialization rights to Patiromer FOS.