Relypsa Inc. (RLYP) Sees Large Volume Increase
Relypsa Inc. (NASDAQ:RLYP) shares saw an uptick in trading volume on Friday . 9,831,586 shares traded hands during mid-day trading, an increase of 113% from the previous session’s volume of 4,609,492 shares.The stock last traded at $31.97 and had previously closed at $31.95.
A number of research firms have recently weighed in on RLYP. Morgan Stanley raised Relypsa from an “underweight” rating to an “equal weight” rating and set a $9.00 price objective for the company in a research report on Monday, May 23rd. Stifel Nicolaus reaffirmed a “buy” rating on shares of Relypsa in a research report on Tuesday, June 28th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target (down previously from $36.00) on shares of Relypsa in a research report on Monday, May 9th. Zacks Investment Research raised Relypsa from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Brean Capital reaffirmed a “buy” rating and set a $26.00 price target on shares of Relypsa in a research report on Sunday, April 17th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Relypsa currently has a consensus rating of “Buy” and a consensus target price of $36.68.
The firm’s market capitalization is $1.44 billion. The firm’s 50-day moving average is $19.38 and its 200 day moving average is $17.63.
Relypsa (NASDAQ:RLYP) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.46) by $0.20. The company earned $12.40 million during the quarter, compared to analyst estimates of $6.88 million. During the same quarter in the prior year, the company earned ($0.78) EPS. Equities research analysts forecast that Relypsa Inc. will post ($5.95) earnings per share for the current year.
A number of institutional investors recently added to or reduced their stakes in the stock. 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 valued at $1,085,000 after buying an additional 3,445 shares in the last quarter. Nationwide Fund Advisors increased its position in Relypsa by 0.6% in the fourth quarter. Nationwide Fund Advisors now owns 42,287 shares of the company’s stock valued at $1,198,000 after buying an additional 272 shares in the last quarter. Ashburton Jersey Ltd bought a new position in Relypsa during the fourth quarter valued at about $1,725,000. 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 valued at $1,712,000 after buying an additional 1,084 shares in the last quarter. Finally, California Public Employees Retirement System bought a new position in Relypsa during the fourth quarter valued at about $3,826,000.
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.