Vetr Inc. Downgrades Keryx Biopharmaceuticals Inc. (KERX) to Buy
Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $5.93 price target on the biopharmaceutical company’s stock. Vetr‘s price target suggests a potential upside of 7.82% from the company’s previous close.
A number of other research analysts also recently commented on KERX. Zacks Investment Research downgraded Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. FBR & Co restated a “buy” rating and issued a $13.00 target price on shares of Keryx Biopharmaceuticals in a research note on Monday, July 25th. Brean Capital downgraded Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Stifel Nicolaus downgraded Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Maxim Group restated a “buy” rating and issued a $9.00 target price (up previously from $7.00) on shares of Keryx Biopharmaceuticals in a research note on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Keryx Biopharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $8.02.
Keryx Biopharmaceuticals (NASDAQ:KERX) traded up 3.58% during trading on Monday, hitting $5.50. The stock had a trading volume of 1,411,538 shares. Keryx Biopharmaceuticals has a 12-month low of $2.80 and a 12-month high of $7.80. The company’s market cap is $582.42 million. The company has a 50 day moving average of $4.66 and a 200-day moving average of $5.44.
Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its earnings results on Monday, August 1st. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.14. Keryx Biopharmaceuticals had a negative net margin of 590.50% and a negative return on equity of 172.04%. The firm earned $9.30 million during the quarter, compared to analysts’ expectations of $8.60 million. During the same quarter last year, the firm earned ($0.26) EPS. The business’s revenue for the quarter was up 272.0% compared to the same quarter last year. On average, equities analysts predict that Keryx Biopharmaceuticals will post ($1.24) EPS for the current year.
In related news, CFO Scott A. Holmes sold 4,935 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $7.36, for a total transaction of $36,321.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.08% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Keryx Biopharmaceuticals during the fourth quarter valued at $9,150,000. FMR LLC increased its stake in shares of Keryx Biopharmaceuticals by 45.1% in the second quarter. FMR LLC now owns 3,168,664 shares of the biopharmaceutical company’s stock valued at $20,977,000 after buying an additional 984,472 shares during the last quarter. Royce & Associates LP increased its stake in shares of Keryx Biopharmaceuticals by 32.2% in the first quarter. Royce & Associates LP now owns 451,725 shares of the biopharmaceutical company’s stock valued at $2,110,000 after buying an additional 110,000 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Keryx Biopharmaceuticals during the second quarter valued at $536,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Keryx Biopharmaceuticals during the second quarter valued at $471,000. Hedge funds and other institutional investors own 61.13% of the company’s stock.
About Keryx Biopharmaceuticals
Keryx Biopharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. The Company’s product Auryxia (ferric citrate), also known as Riona in Japan and Fexeric in Europe, is an oral, absorbable iron-based compound, which is indicated for the control of serum phosphorus levels in patients with chronic kidney disease (CKD), on dialysis.
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