Keryx Biopharmaceuticals Inc. (KERX) Downgraded by Vetr Inc. to “Buy”
Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a report released on Monday. They presently have a $5.93 target price on the biopharmaceutical company’s stock. Vetr‘s target price points to a potential upside of 9.41% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Ladenburg Thalmann lifted their target price on Keryx Biopharmaceuticals from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. FBR & Co reaffirmed a “buy” rating and set a $13.00 target price on shares of Keryx Biopharmaceuticals in a report on Monday, July 25th. Zacks Investment Research raised Keryx Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Wednesday, July 13th. Maxim Group reaffirmed a “buy” rating and set a $9.00 target price (up previously from $7.00) on shares of Keryx Biopharmaceuticals in a report on Friday, July 8th. Finally, Stifel Nicolaus downgraded Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Keryx Biopharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $8.44.
Keryx Biopharmaceuticals (NASDAQ:KERX) traded down 1.09% during midday trading on Monday, reaching $5.42. 1,107,721 shares of the company traded hands. The stock’s market capitalization is $573.95 million. Keryx Biopharmaceuticals has a 1-year low of $2.80 and a 1-year high of $7.80. The firm has a 50-day moving average of $4.77 and a 200-day moving average of $5.45.
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Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its quarterly earnings results on Monday, August 1st. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.14. Keryx Biopharmaceuticals had a negative return on equity of 172.04% and a negative net margin of 590.50%. The business had revenue of $9.30 million for the quarter, compared to analysts’ expectations of $8.60 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. Keryx Biopharmaceuticals’s revenue was up 272.0% on a year-over-year basis. On average, analysts predict that Keryx Biopharmaceuticals will post ($1.24) earnings per share for the current year.
In other news, CFO Scott A. Holmes sold 4,935 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $7.36, for a total value of $36,321.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.08% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Alpine Partners VI LLC acquired a new stake in Keryx Biopharmaceuticals during the second quarter worth approximately $110,000. Trexquant Investment LP acquired a new stake in Keryx Biopharmaceuticals during the second quarter worth approximately $115,000. Cambridge Investment Research Advisors Inc. boosted its stake in Keryx Biopharmaceuticals by 38.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,100 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 5,000 shares during the period. LMR Partners LLP acquired a new stake in Keryx Biopharmaceuticals during the second quarter worth approximately $125,000. Finally, Stifel Financial Corp acquired a new stake in Keryx Biopharmaceuticals during the second quarter worth approximately $170,000. Institutional investors and hedge funds own 61.13% of the company’s stock.
About Keryx Biopharmaceuticals
Keryx Biopharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. The Company’s product Auryxia (ferric citrate), also known as Riona in Japan and Fexeric in Europe, is an oral, absorbable iron-based compound, which is indicated for the control of serum phosphorus levels in patients with chronic kidney disease (CKD), on dialysis.
To view Vetr’s full report, visit Vetr’s official website.
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