Relypsa Inc. (RLYP) Downgraded to Hold at Cantor Fitzgerald
Relypsa Inc. (NASDAQ:RLYP) was downgraded by stock analysts at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday. They presently have a $32.00 price objective on the stock, down from their prior price objective of $41.00. Cantor Fitzgerald’s price target would indicate a potential upside of 0.03% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Morgan Stanley reissued a “hold” rating on shares of Relypsa in a research report on Sunday, May 29th. Wedbush reissued an “outperform” rating and issued a $51.00 price objective on shares of Relypsa in a research report on Tuesday, July 12th. Mizuho reissued a “neutral” rating and issued a $32.00 price objective (up previously from $20.00) on shares of Relypsa in a research report on Sunday, July 24th. Cowen and Company reissued a “buy” rating on shares of Relypsa in a research report on Sunday, May 29th. Finally, Citigroup Inc. lowered shares of Relypsa from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $25.00 to $32.00 in a research report on Thursday, July 21st. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Relypsa presently has a consensus rating of “Hold” and an average target price of $35.87.
Shares of Relypsa (NASDAQ:RLYP) remained flat at $31.99 during midday trading on Tuesday. Relypsa has a 1-year low of $10.26 and a 1-year high of $32.12. The company’s 50 day moving average is $30.31 and its 200-day moving average is $20.28.
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Relypsa (NASDAQ:RLYP) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($1.87) EPS for the quarter, missing the consensus estimate of ($1.56) by $0.31. The company had revenue of $5.22 million for the quarter, compared to analysts’ expectations of $5.45 million. Equities research analysts predict that Relypsa will post ($6.33) earnings per share for the current fiscal year.
In other news, major shareholder James D. Dondero sold 37,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $31.96, for a total value of $1,182,520.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Orbimed Advisors Llc sold 4,043,600 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $32.00, for a total transaction of $129,395,200.00. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently bought and sold shares of RLYP. State Street Corp increased its position in Relypsa by 106.1% in the first quarter. State Street Corp now owns 2,216,498 shares of the company’s stock worth $30,037,000 after buying an additional 1,141,229 shares during the last quarter. Deerfield Management Co. increased its position in Relypsa by 108.1% in the first quarter. Deerfield Management Co. now owns 1,873,471 shares of the company’s stock worth $25,386,000 after buying an additional 973,190 shares during the last quarter. Scopia Capital Management LP acquired a new position in Relypsa during the first quarter worth about $4,930,000. Vanguard Group Inc. increased its position in Relypsa by 17.4% in the second quarter. Vanguard Group Inc. now owns 2,445,249 shares of the company’s stock worth $45,237,000 after buying an additional 361,815 shares during the last quarter. Finally, Balyasny Asset Management LLC increased its position in Relypsa by 169.5% in the fourth quarter. Balyasny Asset Management LLC now owns 482,170 shares of the company’s stock worth $13,665,000 after buying an additional 303,250 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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