Keryx Biopharmaceuticals (NASDAQ:KERX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Keryx’s loss in third-quarter 2017 was wider than expected while sales missed estimates. The FDA approval for the label expansion of Auryxia to treat adults with iron deficiency anemia (IDA) and chronic kidney disease, not on dialysis, might boost sales of the company, given that the IDA market holds great potential. With the latest approval, this drug can treat two complications of chronic kidney disease. The company also believes that the formulary additions at two major Part D providers will continue to support and drive the future growth of Aurexia. The company is also conducting few studies for further label expansion of the drug which should bode well for it. “

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus reduced their target price on shares of Keryx Biopharmaceuticals from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, November 8th. BidaskClub cut shares of Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, ValuEngine downgraded Keryx Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $7.35.

Shares of Keryx Biopharmaceuticals (KERX) traded up $0.14 during trading hours on Friday, reaching $4.79. The company’s stock had a trading volume of 1,506,200 shares, compared to its average volume of 1,530,464. Keryx Biopharmaceuticals has a one year low of $4.47 and a one year high of $8.38. The company has a debt-to-equity ratio of 13.95, a current ratio of 4.46 and a quick ratio of 3.76.

Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Keryx Biopharmaceuticals had a negative return on equity of 10,954.62% and a negative net margin of 323.92%. The firm had revenue of $15.00 million for the quarter, compared to analyst estimates of $18.88 million. During the same period in the prior year, the firm posted ($0.39) earnings per share. The business’s revenue for the quarter was up 138.1% compared to the same quarter last year. sell-side analysts anticipate that Keryx Biopharmaceuticals will post -1.36 EPS for the current year.

A number of large investors have recently bought and sold shares of KERX. Fox Run Management L.L.C. purchased a new position in shares of Keryx Biopharmaceuticals in the third quarter valued at $101,000. Engineers Gate Manager LP acquired a new stake in shares of Keryx Biopharmaceuticals in the 3rd quarter valued at approximately $102,000. Principal Financial Group Inc. raised its holdings in shares of Keryx Biopharmaceuticals by 4.2% in the second quarter. Principal Financial Group Inc. now owns 14,759 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 590 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Keryx Biopharmaceuticals by 51.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 16,495 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 5,628 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Keryx Biopharmaceuticals by 1.2% in the first quarter. Legal & General Group Plc now owns 25,985 shares of the biopharmaceutical company’s stock worth $161,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 64.83% of the company’s stock.

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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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