Zacks Investment Research cut shares of Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) from a buy rating to a hold rating in a research report sent to investors on Monday, July 17th.
According to Zacks, “Keryx intends to focus on the growth of Auryxia in the U.S. dialysis market. Meanwhile, the company’s label expansion efforts on Auryxia in the iron-deficiency anemia (IDA) indication seem to be encouraging, given that the IDA market holds great potential. The FDA accepted for review the supplemental New Drug Application (sNDA) for Auryxia tablets for the same indication and has set the Prescription Drug User Fee Act (PDUFA) target action date as Nov 6, 2017. A potential approval should boost sales.. Moreover, shares of the company have outperformed the Medical-Biomed/Genetic Market in year to date. However, considering that the company is heavily dependent on Auryxia for growth, any further interruption in the supply of Auryxia will hamper its growth trajectory, going forward.”
A number of other analysts have also commented on the company. Maxim Group lifted their price target on Keryx Biopharmaceuticals from $7.00 to $9.00 and gave the company a buy rating in a research note on Monday, May 15th. Cowen and Company reissued a hold rating on shares of Keryx Biopharmaceuticals in a research note on Saturday, June 17th. Finally, ValuEngine lowered Keryx Biopharmaceuticals from a hold rating to a sell rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Keryx Biopharmaceuticals currently has an average rating of Hold and an average price target of $7.48.
Shares of Keryx Biopharmaceuticals (NASDAQ KERX) opened at 6.97 on Monday. The stock has a 50 day moving average of $7.14 and a 200 day moving average of $6.10. The company’s market cap is $827.69 million. Keryx Biopharmaceuticals has a 12-month low of $4.03 and a 12-month high of $8.38.
Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.60. Keryx Biopharmaceuticals had a negative return on equity of 2,902.87% and a negative net margin of 431.89%. The company had revenue of $15.10 million during the quarter, compared to the consensus estimate of $14.51 million. During the same quarter in the previous year, the business posted ($0.42) EPS. The firm’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, equities analysts expect that Keryx Biopharmaceuticals will post ($1.07) earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of KERX. Stifel Financial Corp raised its position in shares of Keryx Biopharmaceuticals by 11.5% in the first quarter. Stifel Financial Corp now owns 33,736 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 3,478 shares during the period. Lincoln Capital Corp acquired a new position in shares of Keryx Biopharmaceuticals during the fourth quarter valued at about $158,000. Rice Hall James & Associates LLC raised its position 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. Janney Montgomery Scott LLC raised its position in shares of Keryx Biopharmaceuticals by 29.1% in the first quarter. Janney Montgomery Scott LLC now owns 66,565 shares of the biopharmaceutical company’s stock valued at $410,000 after buying an additional 15,000 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Keryx Biopharmaceuticals during the first quarter valued at about $434,000. 57.06% of the stock is currently 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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