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 Wednesday.
According to Zacks, “Auryxia posted a good performance in 2017. 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. However, with Auryxia being the only approved product in Keryx’s portfolio, the company is completely 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. The company did not provide any guidance for 2018 as the company waits to see how Auryxia is adopted by the patients in the IDA setting. Consequently, shares of the company underperformed the industry.”
Several other research firms also recently weighed in on KERX. BidaskClub downgraded Keryx Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 20th. ValuEngine cut Keryx Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, February 22nd. Finally, Morgan Stanley cut their price target on Keryx Biopharmaceuticals from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Keryx Biopharmaceuticals presently has a consensus rating of “Hold” and an average price target of $7.19.
Keryx Biopharmaceuticals (NASDAQ:KERX) last released its earnings results on Wednesday, February 7th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The firm had revenue of $18.70 million during the quarter, compared to analysts’ expectations of $17.53 million. Keryx Biopharmaceuticals had a negative net margin of 269.52% and a negative return on equity of 10,954.62%. The business’s revenue was up 96.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.32) EPS. research analysts predict that Keryx Biopharmaceuticals will post -0.61 earnings per share for the current fiscal year.
In related news, COO Christine A. Carberry sold 9,048 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $4.87, for a total value of $44,063.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Holmes sold 5,651 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $4.81, for a total value of $27,181.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,362 shares of company stock valued at $199,640. Insiders own 2.58% of the company’s stock.
Several large investors have recently bought and sold shares of KERX. Bank of New York Mellon Corp increased its holdings in shares of Keryx Biopharmaceuticals by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 973,229 shares of the biopharmaceutical company’s stock valued at $6,910,000 after purchasing an additional 10,175 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Keryx Biopharmaceuticals by 12.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 495,896 shares of the biopharmaceutical company’s stock valued at $3,521,000 after purchasing an additional 54,790 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Keryx Biopharmaceuticals in the third quarter valued at approximately $102,000. Rice Hall James & Associates LLC increased 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 valued at $8,889,000 after purchasing an additional 310,485 shares during the last quarter. Finally, Harvey Capital Management Inc. acquired a new stake in shares of Keryx Biopharmaceuticals in the fourth quarter valued at approximately $163,000. 65.42% of the stock is owned by hedge funds and other institutional investors.
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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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