FBR & Co Reaffirms Market Perform Rating for Keryx Biopharmaceuticals Inc. (KERX)
Keryx Biopharmaceuticals Inc. (NASDAQ:KERX)‘s stock had its “market perform” rating reissued by analysts at FBR & Co in a research note issued on Tuesday. They currently have a $7.00 price objective on the biopharmaceutical company’s stock. FBR & Co’s price target points to a potential upside of 51.19% from the stock’s previous close.
Several other research firms have also issued reports on KERX. Maxim Group lowered shares of Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Zacks Investment Research raised shares of Keryx Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Wednesday, July 13th. Vetr lowered shares of Keryx Biopharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $5.93 price objective for the company. in a report on Monday, October 3rd. Brean Capital lowered shares of Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Ladenburg Thalmann raised their price objective on shares of Keryx Biopharmaceuticals from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $8.44.
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) traded up 0.108% during trading on Tuesday, hitting $4.635. The stock had a trading volume of 921,622 shares. The stock’s 50-day moving average price is $4.86 and its 200 day moving average price is $5.47. The stock’s market cap is $490.82 million. Keryx Biopharmaceuticals has a one year low of $2.80 and a one year high of $7.80.
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Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its quarterly earnings results on Monday, August 1st. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 earned $9.30 million during the quarter, compared to analyst estimates of $8.60 million. During the same period last year, the company earned ($0.26) EPS. The business’s revenue for the quarter was up 272.0% on a year-over-year basis. On average, equities analysts forecast that Keryx Biopharmaceuticals will post ($1.24) EPS for the current year.
In other news, CFO Scott A. Holmes sold 4,935 shares of Keryx Biopharmaceuticals stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $7.36, for a total value of $36,321.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.08% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. FMR LLC increased its stake in Keryx Biopharmaceuticals by 45.1% in the second quarter. FMR LLC now owns 3,168,664 shares of the biopharmaceutical company’s stock worth $20,977,000 after buying an additional 984,472 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in Keryx Biopharmaceuticals by 1.3% in the second quarter. Rice Hall James & Associates LLC now owns 912,830 shares of the biopharmaceutical company’s stock worth $6,043,000 after buying an additional 11,767 shares in the last quarter. Royce & Associates LP increased its stake in Keryx Biopharmaceuticals by 32.2% in the first quarter. Royce & Associates LP now owns 451,725 shares of the biopharmaceutical company’s stock worth $2,110,000 after buying an additional 110,000 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Keryx Biopharmaceuticals by 99.0% in the second quarter. Janney Montgomery Scott LLC now owns 84,209 shares of the biopharmaceutical company’s stock worth $490,000 after buying an additional 41,894 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Keryx Biopharmaceuticals during the second quarter worth about $536,000. 61.15% of the stock is owned by hedge funds and other institutional investors.
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.
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