Radius Health, Inc. (RDUS) Downgraded to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Radius Health, Inc. (NASDAQ:RDUS) from a hold rating to a sell rating in a report published on Wednesday.
According to Zacks, “The FDA’s approval of Radius Health’s lead candidate, Tymlos, is a significant boost for the company. The company is moving ahead with its plans in contracting with managed care organizations with access to over 133 million covered lives across Commercial and Medicare Part D plans. 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. The company’ shares have underperformed the industry in the year so far.”
A number of other analysts also recently weighed in on RDUS. ValuEngine raised shares of Radius Health from a sell rating to a hold rating in a report on Thursday, June 22nd. BidaskClub raised shares of Radius Health from a hold rating to a buy rating in a report on Tuesday, June 27th. Cantor Fitzgerald set a $65.00 price target on shares of Radius Health and gave the company a buy rating in a report on Monday, July 17th. Canaccord Genuity set a $85.00 price target on shares of Radius Health and gave the company a buy rating in a report on Monday, July 31st. Finally, Maxim Group reissued a positive rating on shares of Radius Health in a report on Friday, September 29th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Radius Health has an average rating of Hold and a consensus target price of $53.60.
Radius Health (NASDAQ RDUS) traded down 1.43% during midday trading on Wednesday, reaching $38.48. 483,210 shares of the company traded hands. The firm has a 50 day moving average of $36.43 and a 200-day moving average of $38.70. Radius Health has a 12 month low of $31.58 and a 12 month high of $55.97. The stock’s market capitalization is $1.67 billion.
Radius Health (NASDAQ:RDUS) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($1.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.35) by ($0.23). The company had revenue of $0.98 million for the quarter, compared to analyst estimates of $1.96 million. During the same period in the prior year, the company posted ($1.01) earnings per share. Analysts forecast that Radius Health will post ($5.58) EPS for the current fiscal year.
In other news, CFO Jose Carmona bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average price of $32.83 per share, for a total transaction of $98,490.00. Following the transaction, the chief financial officer now directly owns 3,000 shares of the company’s stock, valued at approximately $98,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Growth N. V. Biotech bought 150,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $34.97 per share, with a total value of $5,245,500.00. Following the transaction, the insider now directly owns 5,113,799 shares in the company, valued at $178,829,551.03. The disclosure for this purchase can be found here. Insiders have purchased a total of 469,100 shares of company stock valued at $16,328,382 in the last quarter. 15.00% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its position in shares of Radius Health by 19.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,266 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 541 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Radius Health by 6.1% during the 2nd quarter. California State Teachers Retirement System now owns 65,950 shares of the biopharmaceutical company’s stock worth $2,983,000 after purchasing an additional 3,780 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Radius Health by 17.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,677 shares of the biopharmaceutical company’s stock worth $1,251,000 after purchasing an additional 4,083 shares in the last quarter. RA Capital Management LLC acquired a new stake in shares of Radius Health during the 2nd quarter worth about $22,486,000. Finally, State Street Corp increased its position in shares of Radius Health by 12.9% during the 2nd quarter. State Street Corp now owns 1,867,531 shares of the biopharmaceutical company’s stock worth $84,473,000 after purchasing an additional 213,399 shares in the last quarter.
Radius Health Company Profile
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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