Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) Downgraded to “Hold” at Zacks Investment Research
Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Keryx intends to focus on the growth of Auryxia in the U.S. dialysis market. Meanwhile, the company’s label expansion efforts on Auryxia in the iron-deficiency anemia (IDA) indication seem to be encouraging, given that the IDA market holds great potential. The FDA accepted for review the supplemental New Drug Application (sNDA) for Auryxia tablets for the same indication and has set the Prescription Drug User Fee Act (PDUFA) target action date as Nov 6, 2017. A potential approval should boost sales.. Moreover, shares of the company have outperformed the Medical-Biomed/Genetic Market in year to date. However, considering that the company is heavily dependent on Auryxia for growth, any further interruption in the supply of Auryxia will hamper its growth trajectory, going forward.”
KERX has been the subject of a number of other research reports. Maxim Group increased their target price on shares of Keryx Biopharmaceuticals from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. ValuEngine lowered shares of Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Cowen and Company reiterated a “hold” rating on shares of Keryx Biopharmaceuticals in a research report on Saturday, June 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Keryx Biopharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $8.27.
Keryx Biopharmaceuticals (NASDAQ:KERX) traded down 3.841% during mid-day trading on Monday, reaching $7.635. 1,030,194 shares of the company’s stock were exchanged. The company has a 50-day moving average of $6.45 and a 200-day moving average of $5.85. The stock’s market cap is $828.14 million. Keryx Biopharmaceuticals has a 52-week low of $4.03 and a 52-week high of $8.38.
Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.03. Keryx Biopharmaceuticals had a negative return on equity of 1,122.28% and a negative net margin of 387.12%. The company had revenue of $11.82 million for the quarter, compared to analysts’ expectations of $10.19 million. During the same quarter last year, the business posted ($0.39) EPS. The business’s quarterly revenue was up 73.2% on a year-over-year basis. Equities research analysts anticipate that Keryx Biopharmaceuticals will post ($0.69) earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Keryx Biopharmaceuticals during the fourth quarter valued at about $9,973,000. Old West Investment Management LLC raised its stake in shares of Keryx Biopharmaceuticals by 295.4% in the first quarter. Old West Investment Management LLC now owns 828,914 shares of the biopharmaceutical company’s stock valued at $5,106,000 after buying an additional 619,285 shares during the last quarter. State Street Corp raised its stake in shares of Keryx Biopharmaceuticals by 20.1% in the first quarter. State Street Corp now owns 3,479,370 shares of the biopharmaceutical company’s stock valued at $21,432,000 after buying an additional 582,624 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Keryx Biopharmaceuticals by 4.6% in the first quarter. Vanguard Group Inc. now owns 6,848,748 shares of the biopharmaceutical company’s stock valued at $42,188,000 after buying an additional 302,986 shares during the last quarter. Finally, Endurant Capital Management LP bought a new stake in shares of Keryx Biopharmaceuticals during the first quarter valued at about $875,000. Institutional investors and hedge funds own 62.27% of the company’s stock.
About Keryx Biopharmaceuticals
Keryx Biopharmaceuticals, Inc is a biopharmaceutical company focused on the development of medicines for people with renal disease. The Company is engaged in the manufacture, development and commercialization of products for use in treating human diseases. Its marketed product, Auryxia (ferric citrate), which is an orally available, absorbable, iron-based medicine is approved in the United States for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis.
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