Keryx Biopharmaceuticals Inc. (KERX) Upgraded to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) from a buy rating to a strong-buy rating in a report released on Wednesday morning. They currently have $5.93 price objective on the biopharmaceutical company’s stock.
KERX has been the subject of several other research reports. Ladenburg Thalmann increased their target price on shares of Keryx Biopharmaceuticals from $9.00 to $10.00 and gave the company a buy rating in a research note on Tuesday, August 2nd. Stifel Nicolaus cut shares of Keryx Biopharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, August 2nd. Maxim Group reissued a buy rating and issued a $9.00 price target (up previously from $7.00) on shares of Keryx Biopharmaceuticals in a research report on Friday, July 8th. JMP Securities reissued an outperform rating on shares of Keryx Biopharmaceuticals in a research report on Thursday, September 8th. Finally, Raymond James Financial Inc. increased their price target on shares of Keryx Biopharmaceuticals from $7.00 to $10.00 and gave the stock an outperform rating in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $8.44.
Keryx Biopharmaceuticals (NASDAQ:KERX) opened at 4.93 on Wednesday. Keryx Biopharmaceuticals has a 12 month low of $2.80 and a 12 month high of $7.80. The firm’s market capitalization is $522.06 million. The stock’s 50 day moving average price is $4.84 and its 200 day moving average price is $5.46.
Keryx Biopharmaceuticals (NASDAQ:KERX) last released its earnings results on Monday, August 1st. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.14. Keryx Biopharmaceuticals had a negative net margin of 590.50% and a negative return on equity of 172.04%. The company earned $9.30 million during 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 firm’s quarterly revenue was up 272.0% on a year-over-year basis. On average, analysts forecast that Keryx Biopharmaceuticals will post ($1.24) earnings per share for the current year.
In related news, CFO Scott A. Holmes sold 4,935 shares of the firm’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 value of $36,321.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.08% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Alpine Partners VI LLC bought a new stake in shares of Keryx Biopharmaceuticals during the second quarter worth $110,000. Trexquant Investment LP bought a new stake in shares of Keryx Biopharmaceuticals during the second quarter worth $115,000. Cambridge Investment Research Advisors Inc. raised its stake 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 worth $120,000 after buying an additional 5,000 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Keryx Biopharmaceuticals during the second quarter worth $125,000. Finally, Stifel Financial Corp bought a new stake in shares of Keryx Biopharmaceuticals during the second quarter worth $170,000. 61.13% of the stock is owned by institutional investors and hedge funds.
About Keryx Biopharmaceuticals
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.
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