Morgan Stanley Cuts Keryx Biopharmaceuticals (KERX) Price Target to $6.00

Keryx Biopharmaceuticals (NASDAQ:KERX) had its target price dropped by equities researchers at Morgan Stanley from $7.00 to $6.00 in a report released on Thursday. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target would indicate a potential upside of 41.18% from the company’s previous close.

A number of other equities analysts also recently commented on KERX. Zacks Investment Research upgraded shares of Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Stifel Nicolaus dropped their target price on shares of Keryx Biopharmaceuticals from $7.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, November 8th. Finally, ValuEngine downgraded shares of Keryx Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $7.19.

Shares of Keryx Biopharmaceuticals (NASDAQ KERX) traded up $0.05 during mid-day trading on Thursday, reaching $4.25. 681,707 shares of the company’s stock were exchanged, compared to its average volume of 1,250,901. The company has a debt-to-equity ratio of 13.95, a current ratio of 4.46 and a quick ratio of 3.76. The company has a market cap of $499.94, a P/E ratio of -2.96 and a beta of 2.71. Keryx Biopharmaceuticals has a twelve month low of $4.01 and a twelve month high of $8.38.

Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its earnings results on Wednesday, February 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.08). The company had revenue of $18.70 million during the quarter, compared to the consensus estimate of $17.53 million. Keryx Biopharmaceuticals had a negative return on equity of 10,954.62% and a negative net margin of 323.92%. Keryx Biopharmaceuticals’s revenue was up 96.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) earnings per share. analysts expect that Keryx Biopharmaceuticals will post -1.35 earnings per share for the current fiscal year.

In other Keryx Biopharmaceuticals news, COO Christine A. Carberry sold 9,048 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $4.87, for a total value of $44,063.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 16,561 shares of company stock valued at $80,128. 2.58% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas purchased a new position in shares of Keryx Biopharmaceuticals in the fourth quarter worth $142,000. Harvey Capital Management Inc. purchased a new position in shares of Keryx Biopharmaceuticals in the fourth quarter worth $163,000. Rice Hall James & Associates LLC raised its holdings in shares of Keryx Biopharmaceuticals by 19.4% in the fourth quarter. Rice Hall James & Associates LLC now owns 1,911,657 shares of the biopharmaceutical company’s stock worth $8,889,000 after buying an additional 310,485 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Keryx Biopharmaceuticals by 4.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 519,331 shares of the biopharmaceutical company’s stock worth $2,415,000 after buying an additional 23,435 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new position in shares of Keryx Biopharmaceuticals in the third quarter worth $592,000. 65.22% of the stock is owned by institutional investors and hedge funds.

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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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