Relypsa Inc. (RLYP) Sees Strong Trading Volume
Relypsa Inc. (NASDAQ:RLYP) shares saw strong trading volume on Friday . 9,831,586 shares were traded 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.
Several analysts recently commented on the company. HC Wainwright cut Relypsa from a “buy” rating to a “neutral” rating and set a $32.00 target price on the stock. in a research report on Friday. Cantor Fitzgerald set a $41.00 target price on Relypsa and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upgraded Relypsa from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $9.00 to $32.00 in a research report on Thursday. Citigroup Inc. cut Relypsa from a “buy” rating to a “neutral” rating and raised their target price for the company from $25.00 to $32.00 in a research report on Thursday. Finally, Brean Capital cut Relypsa from a “buy” rating to a “hold” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $36.68.
The company’s market cap is $1.44 billion. The stock has a 50-day moving average price of $19.70 and a 200 day moving average price of $17.66.
Relypsa (NASDAQ:RLYP) last announced its earnings results on Wednesday, May 4th. The company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.46) by $0.20. The business earned $12.40 million during the quarter, compared to analyst estimates of $6.88 million. During the same period in the previous year, the firm earned ($0.78) earnings per share. On average, equities analysts anticipate that Relypsa Inc. will post ($5.99) earnings per share for the current fiscal year.
Other hedge funds and institutional investors have made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of 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 during the last quarter. Nationwide Fund Advisors increased its position in shares of 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 during the last quarter. Ashburton Jersey Ltd acquired a new position in shares of Relypsa during the fourth quarter valued at approximately $1,725,000. California State Teachers Retirement System increased its position in shares of 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 during the last quarter. Finally, California Public Employees Retirement System acquired a new position in shares of Relypsa during the fourth quarter valued at approximately $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.
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