NEW YORK (TheStreet) -- Shares of ZS Pharma Inc (ZSPH) were higher by 3.61% to $58.54 in mid-morning trading Friday, after analysts at JPMorgan Chase raised their price target on shares of the biotech company to $75 from $57 earlier today.
The firm maintained its "overweight" rating on the name, but hiked its price target following the stock's 45% gain this month saying the stock is "no longer in stealth mode."
JPMorgan analysts believe that treating hyperkalemia, or high-blood potassium levels, represents a multi-billion dollar opportunity just in the U.S.
"Given the increased investor dialogue, imminent NDA filing, and recent publications, we thought this would be a good time to address the questions we get on the relative competitive positioning of ZS-9 for the treatment of hyperkalemia (high blood potassium)," the firm wrote in a note this morning.
Coppell, Texas-based ZS Pharma is a biopharmaceutical company focused on the development and commercialization of highly selective, non-absorbed drugs to treat renal, cardiovascular, liver and metabolic diseases.
The Company's product candidate, sodium zirconium cyclosilicate completed Phase III development for the treatment of hyperkalemia, a life-threatening condition.