According to Zacks, “Keryx’s top line is driven by strong demand for its lead product, Auryxia. We are encouraged by the company’s label expansion efforts on Auryxia in iron-deficiency anemia (IDA) indication. Moreover, the IDA market holds great potential. However, Keryx was dealt a huge blow when it announced an imminent interruption in the supply of Auryxia in August, due to issues related to the conversion of the active pharmaceutical ingredient (API) into the finished product by its contract manufacturer. Consequently, the company withdrew its guidance for 2016. The supply issue is not expected to be resolved any time soon and will lead to a significant decline in sales. The issue will continue to hurt on the shares until supply normalizes. Given that the company is heavily dependent on Auryxia for growth, this development is concerning. Also, Auryxia faces stiff competition in the U.S. from existing players.”
A number of other analysts have also recently commented on KERX. FBR & Co restated a buy rating and issued a $13.00 price target on shares of Keryx Biopharmaceuticals in a research report on Monday, July 25th. Brean Capital cut Keryx Biopharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 2nd. Stifel Nicolaus cut Keryx Biopharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 2nd. Vetr cut Keryx Biopharmaceuticals from a strong-buy rating to a buy rating and set a $5.93 price target for the company. in a research report on Monday, October 3rd. Finally, Maxim Group restated a buy rating and issued a $9.00 price target (up previously from $7.00) on shares of Keryx Biopharmaceuticals in a research report on Friday, July 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Keryx Biopharmaceuticals currently has an average rating of Hold and an average target price of $8.44.
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) opened at 5.42 on Tuesday. The company has a 50-day moving average price of $4.77 and a 200-day moving average price of $5.45. The company’s market cap is $573.95 million. Keryx Biopharmaceuticals has a 52-week low of $2.80 and a 52-week high of $7.80.
Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its quarterly 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. The company earned $9.30 million during the quarter, compared to analysts’ expectations of $8.60 million. Keryx Biopharmaceuticals had a negative return on equity of 172.04% and a negative net margin of 590.50%. The business’s quarterly revenue was up 272.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.26) EPS. On average, equities analysts predict that Keryx Biopharmaceuticals will post ($1.24) EPS for the current year.
In other news, CFO Scott A. Holmes sold 4,935 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $7.36, for a total value of $36,321.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.08% of the company’s stock.
Several large investors have recently bought and sold shares of KERX. Alpine Partners VI LLC bought a new stake in Keryx Biopharmaceuticals during the second quarter valued at about $110,000. Trexquant Investment LP bought a new stake in Keryx Biopharmaceuticals during the second quarter valued at about $115,000. Cambridge Investment Research Advisors Inc. raised its stake in Keryx Biopharmaceuticals by 38.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,100 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 5,000 shares during the last quarter. LMR Partners LLP bought a new stake in Keryx Biopharmaceuticals during the second quarter valued at about $125,000. Finally, Stifel Financial Corp bought a new stake in Keryx Biopharmaceuticals during the second quarter valued at about $170,000. 61.13% of the stock is owned by institutional investors and hedge funds.
Keryx Biopharmaceuticals Company Profile
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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