Zacks Investment Research upgraded shares of Keryx Biopharmaceuticals (NASDAQ:KERX) from a sell rating to a hold rating in a research report sent to investors on Friday, December 1st.
According to Zacks, “Keryx’s loss in third-quarter 2017 was wider than expected while sales missed estimates. 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. With the latest approval, this drug can treat two complications of chronic kidney disease. The company also believes that the formulary additions at two major Part D providers will continue to support and drive the future growth of Aurexia. The company is also conducting few studies for further label expansion of the drug which should bode well for it. “
Other analysts have also recently issued research reports about the stock. BidaskClub raised shares of Keryx Biopharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, August 16th. ValuEngine cut shares of Keryx Biopharmaceuticals from a hold rating to a sell rating in a report on Thursday, September 21st. Finally, Stifel Nicolaus reduced their target price on shares of Keryx Biopharmaceuticals from $7.00 to $5.00 and set a hold rating on the stock in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Keryx Biopharmaceuticals currently has an average rating of Hold and an average price target of $7.35.
Shares of Keryx Biopharmaceuticals (NASDAQ KERX) traded down $0.18 on Friday, hitting $4.56. 1,166,823 shares of the company were exchanged, compared to its average volume of 1,534,420. The company has a quick ratio of 3.76, a current ratio of 4.46 and a debt-to-equity ratio of 13.95. Keryx Biopharmaceuticals has a 12-month low of $4.33 and a 12-month high of $8.38.
Keryx Biopharmaceuticals (NASDAQ:KERX) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). The firm had revenue of $15.00 million during the quarter, compared to analysts’ expectations of $18.88 million. Keryx Biopharmaceuticals had a negative net margin of 323.92% and a negative return on equity of 10,954.62%. The company’s revenue for the quarter was up 138.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.39) EPS. equities research analysts anticipate that Keryx Biopharmaceuticals will post -1.36 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Keryx Biopharmaceuticals by 5.1% during the second quarter. Vanguard Group Inc. now owns 7,198,269 shares of the biopharmaceutical company’s stock worth $52,043,000 after acquiring an additional 349,521 shares during the last quarter. State Street Corp grew its position in shares of Keryx Biopharmaceuticals by 20.1% during the first quarter. State Street Corp now owns 3,479,370 shares of the biopharmaceutical company’s stock worth $21,432,000 after acquiring an additional 582,624 shares during the last quarter. Rice Hall James & Associates LLC grew its position in shares of Keryx Biopharmaceuticals by 24.3% during 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 acquiring an additional 326,285 shares during the last quarter. Northern Trust Corp grew its position in Keryx Biopharmaceuticals by 6.9% in the 2nd quarter. Northern Trust Corp now owns 1,089,860 shares of the biopharmaceutical company’s stock valued at $7,881,000 after buying an additional 70,420 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Keryx Biopharmaceuticals by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 973,229 shares of the biopharmaceutical company’s stock valued at $6,910,000 after buying an additional 10,175 shares during the last quarter. Institutional investors and hedge funds own 64.83% of the company’s stock.
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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