Vetr Inc. Downgrades Keryx Biopharmaceuticals Inc. (KERX) to Buy
Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They currently have a $5.93 price objective on the biopharmaceutical company’s stock. Vetr‘s target price points to a potential upside of 7.82% from the stock’s previous close.
A number of other equities analysts have also recently commented on KERX. Maxim Group reiterated a “buy” rating and set a $9.00 price target (up previously from $7.00) on shares of Keryx Biopharmaceuticals in a report on Friday, July 8th. Zacks Investment Research upgraded Keryx Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Wednesday, July 13th. FBR & Co restated a “buy” rating and set a $13.00 price objective on shares of Keryx Biopharmaceuticals in a report on Monday, July 25th. Stifel Nicolaus cut Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Brean Capital cut Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $8.02.
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) traded up 3.58% during mid-day trading on Monday, reaching $5.50. The company had a trading volume of 1,411,538 shares. The company’s market capitalization is $582.42 million. Keryx Biopharmaceuticals has a 12 month low of $2.80 and a 12 month high of $7.80. The firm’s 50-day moving average is $4.66 and its 200 day moving average is $5.44.
Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its quarterly earnings results on Monday, August 1st. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.14. Keryx Biopharmaceuticals had a negative return on equity of 172.04% and a negative net margin of 590.50%. The business had revenue of $9.30 million for the quarter, compared to the consensus estimate of $8.60 million. During the same quarter in the previous year, the business posted ($0.26) EPS. The company’s revenue for the quarter was up 272.0% on a year-over-year basis. On average, equities research analysts predict that Keryx Biopharmaceuticals will post ($1.24) earnings per share for the current year.
In other Keryx Biopharmaceuticals news, CFO Scott A. Holmes sold 4,935 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $7.36, for a total transaction of $36,321.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Alpine Partners VI LLC purchased a new position in shares of Keryx Biopharmaceuticals during the second quarter valued at approximately $110,000. Trexquant Investment LP purchased a new position in shares of Keryx Biopharmaceuticals during the second quarter valued at approximately $115,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Keryx Biopharmaceuticals by 38.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,100 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 5,000 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Keryx Biopharmaceuticals during the second quarter valued at approximately $125,000. Finally, Stifel Financial Corp purchased a new position in shares of Keryx Biopharmaceuticals during the second quarter valued at approximately $170,000. Institutional investors and hedge funds own 61.13% of the company’s stock.
Keryx Biopharmaceuticals Company Profile
Keryx Biopharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. The Company’s product Auryxia (ferric citrate), also known as Riona in Japan and Fexeric in Europe, is an oral, absorbable iron-based compound, which is indicated for the control of serum phosphorus levels in patients with chronic kidney disease (CKD), on dialysis.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Keryx Biopharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Keryx Biopharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.