Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “Keryx posted wider than expected loss in the second quarter of 2017 but sales exceeded expectations. The company is making efforts to expand the label of Auryxia. With Auryxia being the only approved product in Keryx’s portfolio, the company is entirely dependent on Auryxia for growth. Auryxia faces stiff competition in the U.S. from existing players, apart from over-the-counter drugs like some calcium carbonate and metal-based products. Apart from competition, Keryx may face strong pricing pressure for Auryxia. However, The  FDA accepted for review the supplemental New Drug Application (sNDA) for Auryxia tablets for the iron-deficiency anemia (IDA) indication and has set the Prescription Drug User Fee Act (PDUFA) target action date on Nov 6, 2017. A potential approval should increase sales. Shares of the company have outperformed the industry year to date.”

KERX has been the subject of several other reports. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price objective (up from $4.00) on shares of Keryx Biopharmaceuticals in a report on Tuesday, July 25th. ValuEngine downgraded Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. BidaskClub downgraded Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Maxim Group set a $9.00 price objective on Keryx Biopharmaceuticals and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Cowen and Company reissued a “market perform” rating on shares of Keryx Biopharmaceuticals in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.48.

Keryx Biopharmaceuticals (NASDAQ:KERX) opened at 7.30 on Thursday. Keryx Biopharmaceuticals has a 52-week low of $4.11 and a 52-week high of $8.38. The firm’s 50-day moving average is $7.02 and its 200-day moving average is $6.47. The stock’s market capitalization is $866.88 million.

Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.60). The firm had revenue of $15.10 million during the quarter, compared to analyst estimates of $14.51 million. Keryx Biopharmaceuticals had a negative net margin of 431.89% and a negative return on equity of 2,902.87%. Keryx Biopharmaceuticals’s revenue was up 62.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) earnings per share. Analysts predict that Keryx Biopharmaceuticals will post ($1.23) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its holdings in shares of Keryx Biopharmaceuticals by 0.3% during the second quarter. UBS Asset Management Americas Inc. now owns 38,316 shares of the biopharmaceutical company’s stock worth $277,000 after purchasing an additional 102 shares during the period. Legal & General Group Plc lifted its holdings in shares of Keryx Biopharmaceuticals by 1.2% during the first quarter. Legal & General Group Plc now owns 25,985 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 300 shares during the period. Rhumbline Advisers lifted its holdings in shares of Keryx Biopharmaceuticals by 0.3% during the second quarter. Rhumbline Advisers now owns 99,711 shares of the biopharmaceutical company’s stock worth $721,000 after purchasing an additional 335 shares during the period. Shufro Rose & Co. LLC lifted its holdings in shares of Keryx Biopharmaceuticals by 0.7% during the first quarter. Shufro Rose & Co. LLC now owns 73,200 shares of the biopharmaceutical company’s stock worth $451,000 after purchasing an additional 500 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Keryx Biopharmaceuticals by 4.2% during the second quarter. Principal Financial Group Inc. now owns 14,759 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 590 shares during the period. 65.19% of the stock is owned by hedge funds and other institutional investors.

Keryx Biopharmaceuticals Company Profile

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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