Zacks Investment Research lowered shares of Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) from a hold rating to a sell rating in a report released on Friday.
According to Zacks, “Keryx’s loss in third-quarter 2017 was wider than expected while sales missed estimates. With Auryxia being the only approved product in Keryx’s portfolio, the company is entirely dependent on it for growth. Meanwhile, Auryxia faces stiff competition in the United States from existing players, apart from over-the-counter drugs like some calcium carbonate and metal-based products. Also, Keryx may face strong pricing pressure for Auryxia. In fact, the drug witnessed a sequential decline in sales in the quarter due to change in the payer mix as well as lower-than-expected growth in prescriptions. Consequently, shares of the company underperformed the industry. However, on a positive note, 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.”
KERX has been the subject of a number of other reports. BidaskClub lowered Keryx Biopharmaceuticals from a strong-buy rating to a buy rating in a research note on Wednesday, July 19th. Maxim Group restated a buy rating and issued a $9.00 target price on shares of Keryx Biopharmaceuticals in a research note on Thursday, July 20th. Cowen and Company restated a market perform rating on shares of Keryx Biopharmaceuticals in a research note on Tuesday, July 25th. Morgan Stanley restated an equal weight rating and issued a $7.00 target price (up from $4.00) on shares of Keryx Biopharmaceuticals in a research note on Tuesday, July 25th. Finally, ValuEngine upgraded Keryx Biopharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $7.35.
Keryx Biopharmaceuticals (NASDAQ:KERX) traded down $0.17 on Friday, hitting $4.74. The stock had a trading volume of 851,745 shares, compared to its average volume of 1,509,957. Keryx Biopharmaceuticals has a 12 month low of $4.47 and a 12 month 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 posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Keryx Biopharmaceuticals had a negative net margin of 323.92% and a negative return on equity of 10,954.62%. The business had revenue of $15.00 million during the quarter, compared to the consensus estimate of $18.88 million. During the same period in the prior year, the company posted ($0.39) earnings per share. The firm’s revenue was up 138.1% compared to the same quarter last year. sell-side analysts predict that Keryx Biopharmaceuticals will post -1.34 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. acquired a new position in Keryx Biopharmaceuticals during the third quarter worth $101,000. Engineers Gate Manager LP acquired a new position in Keryx Biopharmaceuticals during the third quarter worth $102,000. Principal Financial Group Inc. raised its stake in 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 acquiring an additional 590 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Keryx Biopharmaceuticals by 51.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 16,495 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 5,628 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in 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 acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 65.44% of the company’s stock.
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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