Relypsa Inc (NASDAQ:RLYP), a biopharmaceutical company, announced that on June 1, 2016, the compensation committee of the company’s board of directors granted 2 new employees options to purchase an aggregate of 6,250 shares of the company’s common stock with a per share exercise price of $19.86, the closing trading price on the grant date, and 3,125 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 $20.25, up $0.29 or 1.45%. RLYP has a 1-year high of $36.57 and a 1-year low of $10.26. The stock’s 50-day moving average is $16.64 and its 200-day moving average is $19.03.
On the ratings front, Relypsa has been the subject of a number of recent research reports. In a report issued on June 3, Wedbush analyst Liana Moussatos maintained a Buy rating on RLYP, with a price target of $51, which represents a potential upside of 155.4% from where the stock is currently trading. Separately, on June 2, BTIG’s Tim Chiang maintained a Buy rating on the stock and has a price target of $35.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Liana Moussatos and Tim Chiang have a total average return of 8.2% and 6.9% respectively. Moussatos has a success rate of 37.0% and is ranked #365 out of 3894 analysts, while Chiang has a success rate of 56.1% and is ranked #679.
Overall, 2 research analysts have assigned a Hold rating and 8 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $30.50 which is 52.7% above where the stock opened today.
Relypsa, Inc. operates as a bio-pharmaceutical company focused on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases. Its products include patiromer, a non-absorbed for the treatment of hyperkalemia and RLY6002, polymer drug discovery technology.