Morgan Stanley Upgrades Relypsa Inc to Equal-weight with Price Target $32.00

Brokerage firm Morgan Stanley Upgrades its rating on Relypsa Inc(NASDAQ:RLYP). In a research note issued to the investors, the brokerage major Raises the price-target to $32.00 per share. The shares have been rated Equal-weight. Previously, the analysts had a Underweight rating on the shares. The rating by Morgan Stanley was issued on Jul 21, 2016.

In a different note, On Jun 16, 2016, Wedbush said it Maintains its rating on Relypsa Inc. In the research note, the firm Maintains the price-target to $51.00 per share. The shares have been rated ‘Outperform’ by the firm. On Jun 9, 2016, Wedbush said it Maintains its rating on Relypsa Inc. The shares have been rated ‘Outperform’ by the firm. On Jun 7, 2016, Morgan Stanley said it Downgrades its rating on Relypsa Inc. The shares have been rated ‘Underweight’ by the firm. On Jun 1, 2016, Mizuho Securities said it Upgrades its rating on Relypsa Inc. The shares have been rated ‘Neutral’ by the firm. On May 23, 2016, Morgan Stanley said it Upgrades its rating on Relypsa Inc. The shares have been rated ‘Equal Weight’ by the firm. On May 17, 2016, Citigroup said it Maintains its rating on Relypsa Inc. In the research note, the firm Lowers the price-target to $30.00 per share. The shares have been rated ‘Buy’ by the firm.

Relypsa Inc (RLYP) made into the market gainers list on Wednesdays trading session with the shares advancing 1.31% or 0.26 points. Due to strong positive momentum, the stock ended at $20.1, which is also near the day’s high of $20.43. The stock began the session at $19.98 and the volume stood at 12,48,955 shares. The 52-week high of the shares is $35.97 and the 52 week low is $10.26. The company has a current market capitalization of $899 M and it has 4,47,47,978 shares in outstanding.

Relypsa Inc(RLYP) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $12.38M. Analysts had an estimated revenue of $6.87M. Earnings per share were $-1.26. Analysts had estimated an EPS of $-1.46.

Several Insider Transactions has been reported to the SEC. On Jun 8, 2016, Helen Torley (director) sold 1,013 shares at $19.32 per share price.Also, On Jun 8, 2016, Daniel K Spiegelman (director) sold 1,013 shares at $19.31 per share price.On Jun 8, 2016, Kenneth J. Hillan (director) sold 1,013 shares at $19.31 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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 Company’s 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.

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