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Fly News Breaks for October 23, 2015
RLYP
Oct 23, 2015 | 07:31 EDT
Oppenheimer believes that the 25% decline in Relypsa's stock following its disclosure of the box warning for its Veltassa drug is overdone. The firm says that the six hour separation needed between taking Veltassa and any other drug is "manageable." It thinks that the results of a trial due to be reported early next year could cause the separation time to decline. Oppenheimer continues to believe that Veltassa could "change the treatment paradigm of hyperkalemia." It keeps a $55 price target and Outperform rating on the shares.
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