Keryx Biopharmaceuticals (KERX) Stock Rating Lowered by Zacks Investment Research
Keryx Biopharmaceuticals (NASDAQ:KERX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
According to Zacks, “Keryx posted wider than expected loss in the second quarter of 2017 but sales exceeded expectations. The company is making efforts to expand the label of Auryxia. With Auryxia being the only approved product in Keryx’s portfolio, the company is entirely dependent on Auryxia for growth. Auryxia faces stiff competition in the U.S. from existing players, apart from over-the-counter drugs like some calcium carbonate and metal-based products. Apart from competition, Keryx may face strong pricing pressure for Auryxia. However, The FDA accepted for review the supplemental New Drug Application (sNDA) for Auryxia tablets for the iron-deficiency anemia (IDA) indication and has set the Prescription Drug User Fee Act (PDUFA) target action date on Nov 6, 2017. A potential approval should increase sales. Shares of the company have outperformed the industry year to date.”
Other equities research analysts also recently issued research reports about the company. Maxim Group reaffirmed a “buy” rating and issued a $9.00 target price on shares of Keryx Biopharmaceuticals in a research report on Thursday, July 20th. BidaskClub downgraded Keryx Biopharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $7.00 target price (up previously from $4.00) on shares of Keryx Biopharmaceuticals in a research report on Tuesday, July 25th. ValuEngine raised Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Keryx Biopharmaceuticals in a research report on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $7.48.
Shares of Keryx Biopharmaceuticals (NASDAQ KERX) opened at 7.19 on Thursday. Keryx Biopharmaceuticals has a 52-week low of $4.11 and a 52-week high of $8.38. The firm has a 50-day moving average price of $7.00 and a 200-day moving average price of $6.49. The firm’s market cap is $853.81 million.
Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its earnings results 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 22,211.17% and a negative net margin of 571.16%. The company had revenue of $15.10 million during the quarter, compared to analysts’ expectations of $14.51 million. During the same period in the previous year, the company earned ($0.42) EPS. Keryx Biopharmaceuticals’s quarterly revenue was up 62.4% on a year-over-year basis. Analysts predict that Keryx Biopharmaceuticals will post ($1.23) EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in shares of Keryx Biopharmaceuticals by 4.2% in 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. OZ Management LP acquired a new position in shares of Keryx Biopharmaceuticals in the first quarter worth about $109,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Keryx Biopharmaceuticals by 51.8% in 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. Jane Street Group LLC acquired a new position in shares of Keryx Biopharmaceuticals in the first quarter worth about $141,000. Finally, Legal & General Group Plc lifted its stake in shares of Keryx Biopharmaceuticals by 1.2% in 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. Institutional investors and hedge funds own 65.19% 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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