Zacks Investment Research upgraded shares of Keryx Biopharmaceuticals (NASDAQ:KERX) from a sell rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “Auryxia posted a good performance in 2017. 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. However, with Auryxia being the only approved product in Keryx’s portfolio, the company is completely 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. The company did not provide any guidance for 2018 as the company waits to see how Auryxia is adopted by the patients in the IDA setting. Consequently, shares of the company underperformed the industry.”
Several other research analysts have also commented on the stock. BidaskClub lowered shares of Keryx Biopharmaceuticals from a sell rating to a strong sell rating in a research note on Tuesday, March 20th. Morgan Stanley dropped their price objective on shares of Keryx Biopharmaceuticals from $7.00 to $6.00 and set an equal weight rating for the company in a research note on Thursday, February 8th. Finally, ValuEngine lowered shares of Keryx Biopharmaceuticals from a sell rating to a strong sell rating in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $7.19.
KERX stock opened at $4.55 on Wednesday. Keryx Biopharmaceuticals has a fifty-two week low of $3.92 and a fifty-two week high of $8.38. The company has a quick ratio of 2.49, a current ratio of 3.12 and a debt-to-equity ratio of -8.87. The firm has a market capitalization of $568.47, a P/E ratio of -5.17 and a beta of 2.61.
Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its quarterly earnings data on Wednesday, February 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The firm had revenue of $18.70 million for the quarter, compared to analysts’ expectations of $17.53 million. Keryx Biopharmaceuticals had a negative return on equity of 10,954.62% and a negative net margin of 269.52%. The firm’s quarterly revenue was up 96.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.32) earnings per share. analysts predict that Keryx Biopharmaceuticals will post -0.61 earnings per share for the current year.
In other news, insider Greg Madison sold 15,318 shares of Keryx Biopharmaceuticals stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $4.81, for a total transaction of $73,679.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian Adams sold 5,652 shares of Keryx Biopharmaceuticals stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $4.81, for a total value of $27,186.12. The disclosure for this sale can be found here. Insiders have sold 41,362 shares of company stock valued at $199,640 over the last ninety days. 2.58% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Abrams Capital Management L.P. lifted its position in shares of Keryx Biopharmaceuticals by 69.9% during the fourth quarter. Abrams Capital Management L.P. now owns 9,719,176 shares of the biopharmaceutical company’s stock worth $45,194,000 after purchasing an additional 4,000,000 shares during the last quarter. BlackRock Inc. lifted its position in shares of Keryx Biopharmaceuticals by 1.9% during the fourth quarter. BlackRock Inc. now owns 6,097,948 shares of the biopharmaceutical company’s stock worth $28,356,000 after purchasing an additional 112,381 shares during the last quarter. Clearbridge LLC lifted its position in shares of Keryx Biopharmaceuticals by 67.7% during the fourth quarter. Clearbridge LLC now owns 2,692,744 shares of the biopharmaceutical company’s stock worth $12,521,000 after purchasing an additional 1,087,120 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Keryx Biopharmaceuticals by 19.4% during the fourth quarter. Rice Hall James & Associates LLC now owns 1,911,657 shares of the biopharmaceutical company’s stock worth $8,889,000 after purchasing an additional 310,485 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Keryx Biopharmaceuticals by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 973,229 shares of the biopharmaceutical company’s stock worth $6,910,000 after purchasing an additional 10,175 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.
Keryx Biopharmaceuticals Company Profile
Keryx Biopharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on providing medicines for patients with kidney disease in the United States. It markets its lead product Auryxia (ferric citrate), an orally available, absorbable, iron-based medicine for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis, as well as for the treatment of iron deficiency anemia in adults with CKD not on dialysis.
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