Relypsa Inc. (NASDAQ:RLYP) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $31.16 price objective on the stock. Vetr‘s price target points to a potential downside of 2.59% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated a “buy” rating on shares of Relypsa in a report on Sunday, May 29th. Cowen and Company reiterated a “buy” rating on shares of Relypsa in a report on Sunday, May 29th. BTIG Research reiterated a “buy” rating and set a $35.00 price objective on shares of Relypsa in a report on Sunday, May 29th. Morgan Stanley reiterated a “hold” rating on shares of Relypsa in a report on Sunday, May 29th. Finally, Wedbush reiterated an “outperform” rating and set a $51.00 price objective on shares of Relypsa in a report on Saturday, June 4th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Relypsa has a consensus rating of “Hold” and a consensus target price of $35.87.

Relypsa (NASDAQ:RLYP) opened at 31.99 on Monday. Relypsa has a 12-month low of $10.26 and a 12-month high of $32.12. The firm has a 50-day moving average of $30.31 and a 200 day moving average of $20.28.

Relypsa (NASDAQ:RLYP) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($1.87) earnings per share for the quarter, missing the consensus estimate of ($1.56) by $0.31. The business had revenue of $5.22 million for the quarter, compared to analysts’ expectations of $5.45 million. Analysts anticipate that Relypsa will post ($6.33) EPS for the current year.

In related news, major shareholder Orbimed Advisors Llc sold 4,043,600 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $32.00, for a total transaction of $129,395,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder James D. Dondero sold 37,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $31.96, for a total transaction of $1,182,520.00. The disclosure for this sale can be found here.

A number of hedge funds have recently bought and sold shares of RLYP. Janus Capital Management LLC raised its stake in Relypsa by 3.0% in the second quarter. Janus Capital Management LLC now owns 4,513,955 shares of the company’s stock worth $83,507,000 after buying an additional 130,742 shares during the period. Vanguard Group Inc. raised its stake 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 period. State Street Corp raised its stake 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 period. Deerfield Management Co. raised its stake 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 period. Finally, BlackRock Fund Advisors raised its stake in Relypsa by 2.8% in the second quarter. BlackRock Fund Advisors now owns 1,823,279 shares of the company’s stock worth $33,731,000 after buying an additional 49,978 shares during the period.

About Relypsa

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.

5 Day Chart for NASDAQ:RLYP

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