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Cantor Fitzgerald reaffirmed their buy rating on shares of Relypsa Inc (NASDAQ:RLYP) in a research report report published on Monday morning. Cantor Fitzgerald currently has a $41.00 target price on the stock.
RLYP has been the subject of several other reports. Wedbush lowered their price objective on Relypsa from $52.00 to $51.00 and set an outperform rating for the company in a research report on Monday, May 9th. Citigroup Inc. lowered their price objective on Relypsa from $45.00 to $38.00 in a research report on Friday, February 19th. Raymond James initiated coverage on Relypsa in a research report on Friday, April 1st. They set a market perform rating for the company. BTIG Research reaffirmed a buy rating and set a $45.00 price objective on shares of Relypsa in a research report on Tuesday, January 26th. Finally, Cowen and Company reaffirmed a buy rating on shares of Relypsa in a research report on Sunday, April 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $36.36.
Relypsa (NASDAQ:RLYP) opened at 14.14 on Monday. Relypsa has a 12 month low of $10.26 and a 12 month high of $37.45. The company’s market cap is $632.72 million. The firm’s 50-day moving average is $17.00 and its 200-day moving average is $19.12.
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, topping the Thomson Reuters’ consensus estimate of ($1.46) by $0.20. The business had revenue of $12.40 million for the quarter, compared to analyst estimates of $6.88 million. During the same period in the prior year, the company posted ($0.78) earnings per share. On average, analysts anticipate that Relypsa will post ($5.91) EPS for the current fiscal year.
In other Relypsa news, CFO Kristine M. Ball bought 7,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was acquired at an average cost of $12.15 per share, with a total value of $85,050.00. Following the purchase, the chief financial officer now owns 28,290 shares in the company, valued at approximately $343,723.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Schuetz bought 30,000 shares of the business’s stock in a transaction dated Tuesday, March 15th. The shares were acquired at an average cost of $13.39 per share, with a total value of $401,700.00. Following the completion of the purchase, the director now owns 33,962 shares in the company, valued at approximately $454,751.18.
Several institutional investors have modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Relypsa by 21.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 106,548 shares of the company’s stock worth $3,020,000 after buying an additional 18,770 shares during the period. Wells Fargo & Company MN increased its position in Relypsa by 2,235.5% in the fourth quarter. Wells Fargo & Company MN now owns 236,987 shares of the company’s stock valued at $6,715,000 after buying an additional 226,840 shares during the last quarter. California Public Employees Retirement System purchased a new position in Relypsa during the fourth quarter valued at $3,826,000. Jennison Associates increased its position in Relypsa by 0.5% in the third quarter. Jennison Associates now owns 303,767 shares of the company’s stock valued at $5,623,000 after buying an additional 1,567 shares during the last quarter. Finally, Convector Capital Management LP purchased a new position in Relypsa during the fourth quarter valued at $1,326,000.
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 (NASDAQ:RLYP) for oral suspension, or Veltassa, for the treatment of hyperkalemia.
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