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Relypsa (RLYP) Shows Strength: Stock Moves 8.8% Higher
Relypsa, Inc. was a big mover last session, as its shares rose almost 9% on the day. The stock shot up following the FDA rejection of the potassium-lowering drug ZS-9 of AstraZeneca PLZ (AZN - Free Report) . This bodes well for Relypsa as its potassium-lowering drug, Veltassa, has been approved in Oct 2015. This also led to far more shares changing hands than in a normal session. Yesterday’s rally breaks the trend for the company since May 2, as the stock is now trading above the volatile price range of $13.51 to $17.82.
Over the last 30 days, the company witnessed four positive and six negative estimate revisions. Meanwhile, the Zacks Consensus Estimate moved lower, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if Friday’s move higher lasts.
Relypsa currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Is RLYP going up? Or down? Predict to see what others think: Up or Down
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