Relypsa (RLYP) has risen sharply, recording gains of 72.74% in the past 4 weeks. However, the stock has corrected -0.41% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 67.13% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 36.39% and the 50-Day Moving Average is 59.13%. Relypsa, Inc. is up 76.46% in the last 3-month period. Year-to-Date the stock performance stands at 12.7%.
Relypsa (NASDAQ:RLYP): On Fridays trading session , Opening price of the stock was $31.97 with an intraday high of $32. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $31.92. However, the stock managed to close at $31.94, a loss of 0.19% for the day. On the previous day, the stock had closed at $32. The total traded volume of the day was 2,345,766 shares.
Also, Equity Analysts at the Guggenheim Securities downgrades the rating on Relypsa (NASDAQ:RLYP). The brokerage firm has issued a Hold rating on the shares. The shares were previously rated Buy. The rating by the firm was issued on July 26, 2016.
Relypsa, Inc. is a biopharmaceutical company focused on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases. The Companys lead product candidate, Patiromer for Oral Suspension (Patiromer FOS) is for the treatment of hyperkalemia, a life-threatening condition defined as abnormally elevated levels of potassium in the blood. Its New Drug Application (NDA) for Patiromer FOS was accepted for filing by the United States Food and Drug Administration, or FDA. The Companys NDA is supported by a clinical development program consisting of eight clinical trials: three Phase I trials, four Phase II trials and one two-part Phase III trial conducted under a Special Protocol Assessment, or SPA. The active ingredient is a cross-linked polymeric bead with a calcium containing counterion. The Company has the global royalty-free commercialization rights to Patiromer FOS.