Keryx Biopharmaceuticals, Inc. (KERX) Earns “Equal Weight” Rating from Morgan Stanley
Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX)‘s stock had its “equal weight” rating reaffirmed by Morgan Stanley in a research report issued to clients and investors on Tuesday. They currently have a $7.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $4.00. Morgan Stanley’s target price suggests a potential downside of 6.04% from the company’s previous close.
Several other equities research analysts have also commented on the company. Maxim Group upped their target price on Keryx Biopharmaceuticals from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, May 15th. ValuEngine lowered Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Keryx Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a report on Wednesday, July 12th. Cowen and Company reiterated a “hold” rating on shares of Keryx Biopharmaceuticals in a report on Saturday, June 17th. Finally, BidaskClub lowered Keryx Biopharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.11.
Shares of Keryx Biopharmaceuticals (KERX) traded up 2.19% during midday trading on Tuesday, reaching $7.45. The company had a trading volume of 1,355,706 shares. The stock’s 50 day moving average is $7.03 and its 200-day moving average is $6.06. Keryx Biopharmaceuticals has a 12-month low of $4.03 and a 12-month high of $8.38. The stock’s market capitalization is $808.07 million.
Keryx Biopharmaceuticals (NASDAQ:KERX) last announced its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.18) by $0.03. Keryx Biopharmaceuticals had a negative net margin of 387.12% and a negative return on equity of 1,122.28%. The business had revenue of $11.82 million for the quarter, compared to the consensus estimate of $10.19 million. During the same quarter in the previous year, the company earned ($0.39) EPS. The firm’s revenue for the quarter was up 73.2% on a year-over-year basis. On average, equities research analysts predict that Keryx Biopharmaceuticals will post ($0.69) earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of KERX. Metropolitan Life Insurance Co. NY increased its stake in shares of Keryx Biopharmaceuticals by 6.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 64,077 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 3,994 shares during the period. Norges Bank bought a new stake in shares of Keryx Biopharmaceuticals during the fourth quarter valued at approximately $9,973,000. Teachers Advisors LLC increased its stake in shares of Keryx Biopharmaceuticals by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 138,874 shares of the biopharmaceutical company’s stock valued at $814,000 after buying an additional 4,402 shares during the period. Bank of Montreal Can bought a new stake in shares of Keryx Biopharmaceuticals during the first quarter valued at approximately $434,000. Finally, Rice Hall James & Associates LLC increased its stake in shares of Keryx Biopharmaceuticals by 3.0% in the first quarter. Rice Hall James & Associates LLC now owns 1,340,649 shares of the biopharmaceutical company’s stock valued at $8,258,000 after buying an additional 39,656 shares during the period. 62.26% of the stock is owned by hedge funds and other institutional investors.
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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