Relypsa Inc (NASDAQ:RLYP), a biopharmaceutical company, announced that VeltassaTM (patiromer) for oral suspension is now available for prescription to patients with hyperkalemia in the United States. Veltassa was approved by the U.S. Food and Drug Administration (FDA) on October 21, 2015. It is the first new medicine for the treatment of hyperkalemia, or elevated blood potassium levels, in more than 50 years.
“We are very pleased to announce that Veltassa is now available for the millions of Americans who have hyperkalemia,” said John A. Orwin, president and chief executive officer of Relypsa. “We are committed to ensuring people living with the burden of hyperkalemia have access to this important new medicine and the team at our patient support center, Veltassa Konnect, is ready to support patients who have been prescribed Veltassa.” (Original Source)
Shares of Relypsa Inc closed last Friday at $27.92, up $0.25 or 0.90%. 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 $22.85 and its 200-day moving average is $25.63.
On the ratings front, Relypsa has been the subject of a number of recent research reports. In a report issued on December 17, H.C. Wainwright analyst Ed Arce initiated coverage with a Buy rating on RLYP and a price target of $63, which implies an upside of 125.6% from current levels. Separately, on December 8, Wedbush’s Liana Moussatos maintained a Buy rating on the stock and has a price target of $75.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ed Arce and Liana Moussatos have a total average return of 14.8% and 23.3% respectively. Arce has a success rate of 40.6% and is ranked #313 out of 3633 analysts, while Moussatos has a success rate of 49.3% and is ranked #31.
Overall, 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 $55.00 which is 97.0% above where the stock closed last Friday.
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.