Relypsa Inc. (NASDAQ:RLYP) shares fell 3.8% during trading on Wednesday . The stock traded as low as $20.03 and last traded at $20.13, with a volume of 1,462,514 shares. The stock had previously closed at $20.92.

Several research firms have recently commented on RLYP. Morgan Stanley upgraded Relypsa from an “underweight” rating to an “equal weight” rating and set a $9.00 price target on the stock in a report on Monday, May 23rd. Stifel Nicolaus restated a “buy” rating on shares of Relypsa in a report on Tuesday, June 28th. HC Wainwright restated a “buy” rating and issued a $32.00 price objective (down from $36.00) on shares of Relypsa in a report on Monday, May 9th. Zacks Investment Research upgraded shares of Relypsa from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, Brean Capital restated a “buy” rating and issued a $26.00 price objective on shares of Relypsa in a report on Sunday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $34.53.

The company’s market capitalization is $894.49 million. The company has a 50-day moving average price of $18.69 and a 200 day moving average price of $17.76.

Relypsa (NASDAQ:RLYP) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.46) by $0.20. During the same period in the previous year, the business posted ($0.78) earnings per share. The business earned $12.40 million during the quarter, compared to analyst estimates of $6.88 million. On average, analysts predict that Relypsa Inc. will post ($5.94) EPS for the current year.

A number of hedge funds have modified their holdings of RLYP. California Public Employees Retirement System acquired a new stake in shares of Relypsa during the fourth quarter worth about $3,826,000. Royce & Associates LLC raised its stake in shares of Relypsa by 34.6% in the fourth quarter. Royce & Associates LLC now owns 407,700 shares of the company’s stock worth $11,554,000 after buying an additional 104,700 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Relypsa by 122.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 38,455 shares of the company’s stock worth $1,090,000 after buying an additional 21,189 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Relypsa during the fourth quarter worth about $1,299,000. Finally, ProShare Advisors LLC raised its stake in shares of Relypsa by 9.9% in the fourth quarter. ProShare Advisors LLC now owns 38,272 shares of the company’s stock worth $1,085,000 after buying an additional 3,445 shares during the last quarter.

Relypsa, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of polymer-based drugs to treat conditions that are often overlooked and undertreated, but that can have a serious impact on patients’ lives and even be life-threatening. The Company’s first drug candidate is Veltassa (patiromer) for oral suspension, or Veltassa, for the treatment of hyperkalemia.

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