Radius Health, Inc. (NASDAQ:RDUS) Upgraded to “Hold” at Zacks Investment Research
Radius Health, Inc. (NASDAQ:RDUS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, August 8th.
According to Zacks, “The company’s wider-than-expected loss in the second quarter was disappointing as expenses continue to increase with the launch of Tymlos. The FDA’s approval of Radius Health’s lead candidate, Tymlos, is a significant boost for the company. Although the osteoporosis market in the U.S. has a great potential as approximately 1.4 million postmenopausal women in the U.S. experience an osteoporotic fracture each year, Tymlos is expected to face significant competition from Eli Lilly &Co's Forteo and Amgen’s Prolia. Further, the company suffered a setback when the CHMP issued a second Day-180 List of Outstanding Issues to its MAA for Eladynos in Europe. While Radius' efforts in developing its pipeline are encouraging, we note that most of its candidates are in their early or mid stages of development. On a positive note, the company’ shares have outperformed the industry year to date.”
A number of other analysts have also weighed in on RDUS. Cantor Fitzgerald reissued a “buy” rating and set a $65.00 price objective on shares of Radius Health in a research note on Friday, April 28th. Canaccord Genuity reissued a “buy” rating on shares of Radius Health in a research note on Friday, April 28th. Maxim Group reissued a “sell” rating on shares of Radius Health in a research note on Monday, May 1st. Cowen and Company lowered Radius Health from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 2nd. Finally, Jefferies Group LLC dropped their price objective on Radius Health from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.60.
Radius Health (NASDAQ:RDUS) traded up 0.28% during midday trading on Tuesday, reaching $35.52. 539,938 shares of the company traded hands. The company’s market capitalization is $1.55 billion. The stock’s 50 day moving average is $41.97 and its 200 day moving average is $40.13. Radius Health has a one year low of $31.58 and a one year high of $59.22.
Radius Health (NASDAQ:RDUS) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.58) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by $0.23. The business had revenue of $0.98 million for the quarter, compared to analyst estimates of $1.96 million. During the same quarter in the prior year, the firm earned ($1.01) EPS. On average, equities analysts anticipate that Radius Health will post ($5.51) earnings per share for the current year.
In other Radius Health news, major shareholder Growth N. V. Biotech purchased 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average price of $35.98 per share, with a total value of $2,158,800.00. Following the completion of the purchase, the insider now directly owns 5,248,799 shares of the company’s stock, valued at approximately $188,851,788.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Growth N. V. Biotech purchased 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average cost of $34.21 per share, with a total value of $1,368,400.00. Following the purchase, the insider now directly owns 5,038,799 shares of the company’s stock, valued at $172,377,313.79. The disclosure for this purchase can be found here. Insiders purchased 290,000 shares of company stock valued at $10,222,700 in the last ninety days. 15.00% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in RDUS. Ameritas Investment Partners Inc. acquired a new stake in shares of Radius Health during the first quarter worth approximately $105,000. Sei Investments Co. raised its position in shares of Radius Health by 27.7% in the second quarter. Sei Investments Co. now owns 3,180 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 690 shares in the last quarter. Advisor Group Inc. raised its position in shares of Radius Health by 267.2% in the second quarter. Advisor Group Inc. now owns 3,969 shares of the biopharmaceutical company’s stock valued at $180,000 after buying an additional 2,888 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Radius Health by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,231 shares of the biopharmaceutical company’s stock valued at $163,000 after buying an additional 46 shares in the last quarter. Finally, Blair William & Co. IL purchased a new position in shares of Radius Health during the second quarter valued at approximately $205,000. 97.66% of the stock is owned by institutional investors.
About Radius Health
Radius Health, Inc is a biopharmaceutical company. The Company is focused on the developing therapeutics in the areas of osteoporosis, oncology and endocrine diseases. The Company’s lead investigational product candidate, TYMLOS (abaloparatide-SC) injection is developed for the treatment of postmenopausal women with osteoporosis at high risk for fracture.
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