Brokerages Set Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) Price Target at $7.28
Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $7.28.
KERX has been the topic of several research reports. Maxim Group upped their price objective on shares of Keryx Biopharmaceuticals from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Cowen and Company reiterated a “hold” rating on shares of Keryx Biopharmaceuticals in a report on Saturday, June 17th. BidaskClub downgraded shares of Keryx Biopharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Keryx Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a report on Wednesday, July 12th. Finally, ValuEngine downgraded shares of Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.
Shares of Keryx Biopharmaceuticals (NASDAQ KERX) traded down 0.820% on Friday, hitting $6.655. 180,023 shares of the stock were exchanged. The stock’s market cap is $790.28 million. Keryx Biopharmaceuticals has a 1-year low of $4.03 and a 1-year high of $8.38. The stock’s 50-day moving average is $7.14 and its 200-day moving average is $6.10.
Keryx Biopharmaceuticals (NASDAQ:KERX) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $15.10 million for the quarter, compared to analyst estimates of $14.51 million. During the same quarter in the previous year, the company posted ($0.42) EPS. The business’s quarterly revenue was up 62.4% on a year-over-year basis. Analysts forecast that Keryx Biopharmaceuticals will post ($1.32) earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Keryx Biopharmaceuticals during the fourth quarter valued at approximately $9,973,000. Old West Investment Management LLC increased its stake in Keryx Biopharmaceuticals by 295.4% in the first quarter. Old West Investment Management LLC now owns 828,914 shares of the biopharmaceutical company’s stock worth $5,106,000 after buying an additional 619,285 shares during the period. State Street Corp increased its stake in Keryx Biopharmaceuticals by 20.1% in the first quarter. State Street Corp now owns 3,479,370 shares of the biopharmaceutical company’s stock worth $21,432,000 after buying an additional 582,624 shares during the period. Monarch Partners Asset Management LLC bought a new stake in Keryx Biopharmaceuticals during the second quarter worth about $3,059,000. Finally, Rice Hall James & Associates LLC increased its stake in Keryx Biopharmaceuticals by 24.3% in the second quarter. Rice Hall James & Associates LLC now owns 1,666,934 shares of the biopharmaceutical company’s stock worth $12,052,000 after buying an additional 326,285 shares during the period. Institutional investors own 57.06% of the company’s stock.
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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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