Relypsa Inc RLYP 2.77%’s March prescription data was in line with analyst expectations, but the stock is selling off hard in Friday’s session. Despite the 14.5 percent sell-off, Brean Capital analyst Difei Yang believes the stock still has plenty of upside.

“While the data did not blow investors away, it met our expectations; as such, we are keeping our Q1 and full-year estimates intact,” Yang explains.

Relypsa’s stock skyrocketed 67 percent in a single day earlier this month on buyout rumors, so much of Friday’s selloff could be profit-taking.

On Thursday, Benzinga reported that Relypsa may have dropped Centerview as an M&A advisor, and Yang believes this report has sparked a new wave of M&A speculation.

The Centerview news has not impacted Brean’s view that Relypsa will still likely be acquired due to its potential strategic fit with a larger pharmaceutical company.

Yang calculates…

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