Keryx Biopharmaceuticals PT Lowered to $21.00 (KERX)
Equities research analysts at MLV & Co
cut their target price on shares of Keryx Biopharmaceuticals (NASDAQ:KERX) from $27.00 to $21.00 in a research note issued to investors on Monday, AnalystRatings.NET reports. The firm currently has a “buy” rating on the stock. MLV & Co
‘s price target indicates a potential upside of 73.41% from the stock’s previous close.
The analysts wrote, “KERX reported 1Q results last week, but the main focus was mgmt’s comments on the call surrounding outstanding CMC issues with the NDA for lead asset Zerenex (hyperphosphatemia). We hadn’t previously been aware of CMC issues, and while KERX has provided add’l data on this (as well as drug-drug interactions, with info on both recently requested by FDA), we were disappointed to hear of this latest update. With the Zerenex PDUFA just one month away (June 7) and mgmt on multiple occasions citing ‘there are no guarantees’ (yes, we applaud the transparency), we’re feeling a bit less confident in an on-time approval. “We don’t model a delay for Zerenex at this time, but given the increased risk in a potential on-time FDA approval, we now increase the discount rate in our DCF from 17.5% to 20%, and as a result, lower our 1-yr PT to $21 (vs. prior $27, but still 73% upside).”
KERX has been the subject of a number of other recent research reports. Analysts at Mizuho cut their price target on shares of Keryx Biopharmaceuticals from $34.00 to $32.00 in a research note on Friday. Separately, analysts at JMP Securities cut their price target on shares of Keryx Biopharmaceuticals from $25.00 to $19.00 in a research note on Friday. Finally, analysts at Ladenburg Thalmann raised their price target on shares of Keryx Biopharmaceuticals from $24.00 to $30.00 in a research note on Friday, April 4th. They now have a “buy” rating on the stock. Eight equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $24.75.
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) opened at 12.11 on Monday. Keryx Biopharmaceuticals has a one year low of $6.61 and a one year high of $17.46. The stock’s 50-day moving average is $14.77 and its 200-day moving average is $14.06. The company’s market cap is $1.101 billion. Keryx Biopharmaceuticals also was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 19,885,216 shares, an increase of 12.4% from the April 15th total of 17,690,828 shares. Approximately 22.7% of the shares of the company are sold short. Based on an average daily volume of 2,067,905 shares, the short-interest ratio is presently 9.6 days.
Keryx Biopharmaceuticals (NASDAQ:KERX) last released its earnings data on Thursday, May 8th. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.08) by $0.07. The company had revenue of $10.00 million for the quarter, compared to the consensus estimate of $9.91 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 42.9% on a year-over-year basis. Analysts expect that Keryx Biopharmaceuticals will post $-0.71 EPS for the current fiscal year.
Keryx Biopharmaceuticals, Inc (NASDAQ:KERX) is focused on the acquisition, development, and commercialization of pharmaceutical products for the treatment of renal disease.
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