Relypsa Inc (NASDAQ:RLYP), a biopharmaceutical company, today announced that on February 16, 2016, the compensation committee of the company’s board of directors granted 7 new employees options to purchase an aggregate of 24,100 shares of the company’s common stock with a per share exercise price of $18.32, the closing trading price on the grant date, and 12,050 restricted stock units. The stock options and restricted stock units were granted pursuant to the Relypsa, Inc. 2014 Employment Commencement Incentive Plan, which was approved by the company’s board of directors in June 2014 under Rule 5635(c)(4) of the Nasdaq Global Select Market for equity grants to induce new employees to enter into employment with the company. (Original Source)
Shares of Relypsa closed today at $19.00, up $0.10 or 0.53%. RLYP has a 1-year high of $42.26 and a 1-year low of $10.26. The stock’s 50-day moving average is $20.15 and its 200-day moving average is $21.98.
On the ratings front, Relypsa has been the subject of a number of recent research reports. In a report issued on February 12, H.C. Wainwright analyst Ed Arce reiterated a Buy rating on RLYP, with a price target of $63, which represents a potential upside of 226.9% from where the stock is currently trading. Separately, on February 9, BTIG’s Tim Chiang reiterated a Buy rating on the stock and has a price target of $45.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ed Arce and Tim Chiang have a total average return of 9.6% and 2.3% respectively. Arce has a success rate of 30.8% and is ranked #452 out of 3640 analysts, while Chiang has a success rate of 47.8% and is ranked #1107.
The street is mostly Bullish on RLYP stock. Out of 9 analysts who cover the stock, 9 suggest a Buy rating . The 12-month average price target assigned to the stock is $57.40, which implies an upside of 197.9% from current levels.
Relypsa Inc is a biopharmaceutical company engaged in the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases.