In a research note issued this morning, Cantor analyst Mara Goldstein reiterated a Hold rating on shares of Relypsa Inc (NASDAQ:RLYP) with a price target of $32, after the drug maker filed its quarterly report on Form 10-Q for the second-quarter. RLYP reported EPS of $1.87 which was larger than Goldstein’s $1.59 forecast, largely due higher below the operating line expenses. Revenue of $5.2 million was slightly ahead of Goldstein’s $4.9 million forecast.

Goldstein noted, “We are adjusting our model for the quarter’s results. The company’s reporting of monthly prescription data has shown month over month increases in paid prescription growth, which is a factor in the higher numbers in the quarter.”

In addition, Galenica announced yesterday that its indirect wholly owned subsidiary, Vifor Pharma, is commencing its previously announced tender offer for any and all outstanding shares of common stock of Relypsa at a price of $32.00 per share in cash, without interest and less applicable withholding taxes.

Goldstein commented, “While the $32 takeout is lighter than we would like to have seen, we think that another suitor is not likely, and thus expect the transaction to close upon FTC clearance. There is a $49 million break-up fee that Relypsa would have to pay if such an event occurs, which is substantial but not insurmountable, in our view.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mara Goldstein has a yearly average loss of 1.0% and a 44% success rate. Goldstein has a 71.8% average return when recommending RLYP, and is ranked #3133 out of 4090 analysts.

Out of the 13 analysts polled by TipRanks, 7 rate Relypsa stock a Hold, while 6 rate the stock a Buy. With a return potential of 7.1%, the stock’s consensus target price stands at $34.20.

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