Keryx Biopharmaceuticals (KERX) Given “Buy” Rating at HC Wainwright

Keryx Biopharmaceuticals (NASDAQ:KERX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued on Friday. They currently have a $9.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 177.78% from the stock’s previous close.

The analysts wrote, “Valuation compelling. Keryx stock price has pulled back since the merger was announced in June, losing 33% of its value versus the XBI Biotech index losing only 9%. However we see only improving fundamentals as Auryxia revenues continue to improve QoQ.””

Several other research firms have also commented on KERX. Zacks Investment Research lowered Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. BidaskClub lowered Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Citigroup cut their price objective on Keryx Biopharmaceuticals from $4.75 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, August 9th. Finally, Maxim Group reiterated a “hold” rating on shares of Keryx Biopharmaceuticals in a research note on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $6.25.

NASDAQ:KERX traded up $0.21 during trading hours on Friday, hitting $3.24. 3,342,206 shares of the stock were exchanged, compared to its average volume of 879,466. Keryx Biopharmaceuticals has a 52-week low of $2.74 and a 52-week high of $5.98. The firm has a market cap of $359.92 million, a P/E ratio of -3.68 and a beta of 2.46.

Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The firm had revenue of $28.04 million for the quarter, compared to analysts’ expectations of $29.56 million. Analysts anticipate that Keryx Biopharmaceuticals will post -0.61 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. Abrams Capital Management L.P. grew its position in shares of Keryx Biopharmaceuticals by 2.4% in the second quarter. Abrams Capital Management L.P. now owns 9,950,055 shares of the biopharmaceutical company’s stock valued at $37,412,000 after purchasing an additional 230,879 shares in the last quarter. BlackRock Inc. grew its position in shares of Keryx Biopharmaceuticals by 8.9% in the third quarter. BlackRock Inc. now owns 7,199,683 shares of the biopharmaceutical company’s stock valued at $24,479,000 after purchasing an additional 586,238 shares in the last quarter. Rice Hall James & Associates LLC grew its position in shares of Keryx Biopharmaceuticals by 18.9% in the second quarter. Rice Hall James & Associates LLC now owns 2,278,007 shares of the biopharmaceutical company’s stock valued at $8,565,000 after purchasing an additional 361,533 shares in the last quarter. Northern Trust Corp grew its position in shares of Keryx Biopharmaceuticals by 8.8% in the second quarter. Northern Trust Corp now owns 1,190,143 shares of the biopharmaceutical company’s stock valued at $4,476,000 after purchasing an additional 96,580 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Keryx Biopharmaceuticals by 10.7% in the second quarter. Bank of New York Mellon Corp now owns 1,056,811 shares of the biopharmaceutical company’s stock valued at $3,974,000 after purchasing an additional 102,014 shares in the last quarter. Institutional investors and hedge funds own 59.41% of the company’s stock.

About Keryx Biopharmaceuticals

Keryx Biopharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on providing medicines for patients with kidney disease in the United States. It markets its lead product Auryxia (ferric citrate), an orally available, absorbable, iron-based medicine for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis, as well as for the treatment of iron deficiency anemia in adults with CKD not on dialysis.

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Analyst Recommendations for Keryx Biopharmaceuticals (NASDAQ:KERX)

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