Relypsa Inc (RLYP) was Downgraded by Mizuho to ” Underperform” while Lowering the Price Target of the company shares to $ 12 from a previous price target of $22 . Earlier the firm had a rating of “Neutral ” on the company shares. Mizuho advised their investors in a research report released on May 4, 2016.
Many Wall Street Analysts have commented on Relypsa Inc. 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 .Mizuho Initiated Relypsa Inc on Apr 13, 2016 to “Neutral”, Price Target of the shares are set at $22.Relypsa Inc was Initiated by Raymond James to “Mkt Perform” on Apr 1, 2016.
On the company’s financial health, Relypsa Inc reported $-1.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus of $-1.32. The company had revenue of $11.96 million for the quarter, compared to analysts expectations of $9.83 million. During the same quarter in the previous year, the company posted $-0.80 EPS.
Relypsa Inc closed down -0.28 points or -1.55% at $17.82 with 12,69,971 shares getting traded on Monday. Post opening the session at $18.06, the shares hit an intraday low of $17.375 and an intraday high of $18.1599 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.