Zacks Investment Research cut shares of Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) from a hold rating to a sell rating in a research note released on Friday morning.
According to Zacks, “Keryx’s loss in third-quarter 2017 was wider than expected while sales missed estimates. With Auryxia being the only approved product in Keryx’s portfolio, the company is entirely 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. In fact, the drug witnessed a sequential decline in sales in the quarter due to change in the payer mix as well as lower-than-expected growth in prescriptions. Consequently, shares of the company underperformed the industry. However, on a positive note, 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.”
A number of other brokerages have also weighed in on KERX. Maxim Group reaffirmed a buy rating and set a $9.00 price objective on shares of Keryx Biopharmaceuticals in a report on Thursday, July 20th. Morgan Stanley reaffirmed an equal weight rating and set a $7.00 price objective (up previously from $4.00) on shares of Keryx Biopharmaceuticals in a report on Tuesday, July 25th. Cowen and Company reaffirmed a market perform rating on shares of Keryx Biopharmaceuticals in a report on Tuesday, July 25th. ValuEngine lowered Keryx Biopharmaceuticals from a hold rating to a sell rating in a report on Thursday, September 21st. Finally, BidaskClub lowered Keryx Biopharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average target price of $7.35.
Keryx Biopharmaceuticals (KERX) traded down $0.08 during trading on Friday, hitting $4.83. The stock had a trading volume of 3,248,500 shares, compared to its average volume of 1,508,571. Keryx Biopharmaceuticals has a twelve month low of $4.47 and a twelve month high of $8.38. The company has a debt-to-equity ratio of 13.95, a current ratio of 4.46 and a quick ratio of 3.76.
Keryx Biopharmaceuticals (NASDAQ:KERX) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). Keryx Biopharmaceuticals had a negative return on equity of 10,954.62% and a negative net margin of 323.92%. The company had revenue of $15.00 million for the quarter, compared to analysts’ expectations of $18.88 million. During the same quarter last year, the company earned ($0.39) EPS. Keryx Biopharmaceuticals’s revenue for the quarter was up 138.1% compared to the same quarter last year. sell-side analysts anticipate that Keryx Biopharmaceuticals will post -1.34 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the business. Westpac Banking Corp acquired a new stake in Keryx Biopharmaceuticals in the second quarter valued at $390,000. TIAA CREF Investment Management LLC grew its holdings in Keryx Biopharmaceuticals by 3.6% in the second quarter. TIAA CREF Investment Management LLC now owns 220,336 shares of the biopharmaceutical company’s stock valued at $1,593,000 after purchasing an additional 7,576 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in Keryx Biopharmaceuticals in the second quarter valued at $402,000. Schwab Charles Investment Management Inc. grew its holdings in Keryx Biopharmaceuticals by 1.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 441,106 shares of the biopharmaceutical company’s stock valued at $3,190,000 after purchasing an additional 4,388 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Keryx Biopharmaceuticals by 39.2% in the second quarter. Alliancebernstein L.P. now owns 191,650 shares of the biopharmaceutical company’s stock valued at $1,386,000 after purchasing an additional 54,010 shares during the last quarter. 65.44% of the stock is currently owned by institutional investors.
Keryx Biopharmaceuticals Company Profile
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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