BofA/Merrill Lynch Reinstates Relypsa, Inc. (RLYP) at Buy

BofA/Merrill Lynch reinstates coverage on Relypsa, Inc. (NASDAQ: RLYP) with a Buy rating and a price target of $55.00.

Analyst Catherine Hu expect Relypsa approval sometime in 4Q15. She sees limited risks to approval as the phase 3 trial was conducted under a Special Protocol Assessment with the FDA.

Hu said shares are attractively priced given the limited risks to approval and our expectation for a steady global sales ramp up over ~$1 billion.

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 $32.45 yesterday.

You May Also Be Interested In

• META to capture largest share of users, SNAP to benefit from ad budget shifts - Canaccord Genuity weighs in on TikTok ban
• Comcast Corp (CMCSA) PT Lowered to $48 at Pivotal Research
• Singular Research Starts Citizens Inc. (CIA) at Buy-Long Term, 'Proven Distribution Growth'