Keryx Biopharmaceuticals (NASDAQ:KERX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Keryx is completely dependent on Auryxia for growth as it is the only approved product in the company’s portfolio. Keryx's launch of Auryxia for the second indication — iron deficiency anemia (IDA) in chronic kidney disease patients — is boosting sales of the company, given that the IDA market holds great potential. Keryx entered a definitive merger agreement with Akebia Therapeutics that will create a fully integrated company focused on the development and commercialization of therapeutics for patients with chronic kidney diseases. The combined company will be well positioned to create significant shareholder value and accelerate growth beyond what either company would achieve separately. However, Auryxia faces stiff competition in the United States from existing players. Shares of the company have underperformed the industry so far this year. “
Other analysts also recently issued research reports about the company. BidaskClub downgraded Keryx Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 16th. Citigroup lowered their price target on Keryx Biopharmaceuticals from $4.75 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, August 9th. HC Wainwright began coverage on Keryx Biopharmaceuticals in a research report on Thursday, June 28th. They set a “buy” rating and a $9.00 price target on the stock. ValuEngine upgraded Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $5.00 price target on shares of Keryx Biopharmaceuticals in a research report on Monday, June 25th. One research 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’s stock. The company presently has a consensus rating of “Hold” and an average price target of $6.25.
Shares of KERX traded up $0.04 during mid-day trading on Monday, reaching $3.01. The company had a trading volume of 13,452 shares, compared to its average volume of 620,184. Keryx Biopharmaceuticals has a 52-week low of $2.78 and a 52-week high of $8.07. The company has a quick ratio of 1.40, a current ratio of 2.28 and a debt-to-equity ratio of -3.16. The company has a market capitalization of $360.17 million, a price-to-earnings ratio of -3.42 and a beta of 2.50.
Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). equities analysts anticipate that Keryx Biopharmaceuticals will post -0.61 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Rice Hall James & Associates LLC boosted its position in Keryx Biopharmaceuticals by 18.9% during the second quarter. Rice Hall James & Associates LLC now owns 2,278,007 shares of the biopharmaceutical company’s stock worth $8,565,000 after purchasing an additional 361,533 shares in the last quarter. Swiss National Bank boosted its position in Keryx Biopharmaceuticals by 13.0% during the first quarter. Swiss National Bank now owns 160,600 shares of the biopharmaceutical company’s stock worth $657,000 after purchasing an additional 18,500 shares in the last quarter. Mackay Shields LLC purchased a new position in Keryx Biopharmaceuticals during the first quarter worth approximately $294,000. UBS Group AG boosted its position in Keryx Biopharmaceuticals by 126.0% during the first quarter. UBS Group AG now owns 231,934 shares of the biopharmaceutical company’s stock worth $949,000 after purchasing an additional 129,296 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Keryx Biopharmaceuticals by 3.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 536,951 shares of the biopharmaceutical company’s stock worth $2,197,000 after purchasing an additional 17,620 shares in the last quarter. Institutional investors own 59.53% 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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