Relypsa Inc. (NASDAQ:RLYP) shot up 58.4% on Thursday . The company traded as high as $31.94 and last traded at $31.84, with a volume of 31,790,319 shares trading hands. The stock had previously closed at $20.10.

Several equities research analysts recently commented on RLYP shares. Brean Capital reissued a “buy” rating and set a $26.00 price objective on shares of Relypsa in a research note on Sunday, April 17th. Mizuho reissued a “hold” rating on shares of Relypsa in a research note on Sunday, April 17th. BTIG Research reissued a “buy” rating and set a $45.00 price objective on shares of Relypsa in a research note on Saturday, April 9th. Wedbush reissued an “outperform” rating and set a $52.00 price objective on shares of Relypsa in a research note on Saturday, April 9th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $42.00 price objective on shares of Relypsa in a research note on Wednesday, May 4th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $36.68.

The firm’s 50-day moving average is $19.70 and its 200-day moving average is $17.66. The company’s market capitalization is $1.44 billion.

Relypsa (NASDAQ:RLYP) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($1.26) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.46) by $0.20. The company earned $12.40 million during the quarter, compared to analysts’ expectations of $6.88 million. During the same period in the prior year, the business earned ($0.78) EPS. Equities analysts anticipate that Relypsa Inc. will post ($5.95) EPS for the current fiscal year.

A number of hedge funds and institutional investors have bought and sold shares of the stock. California Public Employees Retirement System acquired a new position in Relypsa during the fourth quarter worth approximately $3,826,000. Royce & Associates LLC increased its position in 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 period. Ashburton Jersey Ltd acquired a new position in Relypsa during the fourth quarter worth approximately $1,725,000. ProShare Advisors LLC increased its position in 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 period. Finally, California State Teachers Retirement System increased its position in Relypsa by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 60,422 shares of the company’s stock worth $1,712,000 after buying an additional 1,084 shares during the period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.