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Wedbush Starts Relypsa (RLYP) at Outperform, Peak Patiromer Sales Seen at $1.4B

December 10, 2013 8:05 AM EST Send to a Friend
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Price: $20.62 -2.23%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 12 | New: 33
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Wedbush initiated coverage on Relypsa, Inc. (NASDAQ: RLYP) with an Outperform rating and price target of $34.00. Analyst Liana Moussatos discussed the company's potential breakthrough treatment for hyperkalemia.

"Relypsa is an emerging pharmaceutical company developing non-absorbedpolymer drug candidates to treat renal, cardiovascular and metabolic diseases. Patiromer is the lead drug candidate and is a non-absorbed, optimized potassium-binding polymer to normalize hyperkalemia. Initial targeted patients include those with chronic kidney disease (CKD) and heart failure (HF) for which the standard-of-care, renin-angiotensin-aldosterone system inhibitors (RAASi), can also cause life-threatening hyperkalemia. The company expects to file an NDA for patiromer in Q3:14 and we estimate U.S. launch in Q4:15," said Moussatos.

"Patiromer has shown a potentially best-in-class profile for the treatment of hyperkalemia, and we believe can achieve peak annual sales of about $1.4 billion in the U.S," added the analyst.

For an analyst ratings summary and ratings history on Relypsa, Inc. click here. For more ratings news on Relypsa, Inc. click here.

Shares of Relypsa, Inc. closed at $19.99 yesterday.




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