Zacks Investment Research Lowers Radius Health (RDUS) to Sell

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Radius Health (NASDAQ:RDUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “Radius got  a boost with the approval of lead drug Tymlos. Sales of Tymlos continue to gain traction. Total prescriptions accounted for 22% of total U.S. anabolic osteoporosis market (based on Patient Months on Therapy, TRx PMOT) in the quarter. Tymlos is expected to be covered for approximately 274 million insured lives, representing approximately 95% of U.S. commercial and 64% of Medicare insured lives effective Jan 1, 2019. However, Radius suffered a setback when the CHMP communicated a negative trend vote for the MAA following a re-examination procedure of lead drug Tymlos. Thereafter, the CHMP communicated that it maintained its negative opinion on the MAA at its formal final vote. While the market for postmenopausal osteoporosis provides significant commercial potential, it is pretty crowded given the presence of products like Amgen’s Prolia and Lilly’s Forteo. Shares have underperformed the industry in the last six months.”

RDUS has been the topic of a number of other research reports. BidaskClub downgraded shares of Radius Health from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 13th. ValuEngine downgraded shares of Radius Health from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Radius Health from $59.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, November 2nd. Finally, Cowen reissued a “hold” rating on shares of Radius Health in a report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Radius Health currently has an average rating of “Hold” and an average target price of $44.50.

Shares of NASDAQ RDUS traded down $0.50 during trading on Thursday, reaching $16.44. 523,899 shares of the company traded hands, compared to its average volume of 729,037. The company has a quick ratio of 5.39, a current ratio of 5.50 and a debt-to-equity ratio of 1.85. The company has a market cap of $755.50 million, a PE ratio of -2.83 and a beta of 0.94. Radius Health has a 52-week low of $12.81 and a 52-week high of $41.16.

Radius Health (NASDAQ:RDUS) last posted its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.17. The company had revenue of $27.70 million for the quarter, compared to the consensus estimate of $26.00 million. Radius Health had a negative net margin of 346.67% and a negative return on equity of 140.79%. The firm’s revenue was up 105.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.31) earnings per share. As a group, equities research analysts anticipate that Radius Health will post -5.17 EPS for the current fiscal year.

In other news, VP Joseph Francis Kelly bought 3,000 shares of the firm’s stock in a transaction on Monday, December 17th. The shares were bought at an average price of $15.71 per share, for a total transaction of $47,130.00. Following the purchase, the vice president now owns 3,000 shares in the company, valued at $47,130. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Growth N. V. Biotech bought 60,000 shares of the firm’s stock in a transaction on Thursday, December 20th. The shares were purchased at an average price of $14.48 per share, for a total transaction of $868,800.00. Following the purchase, the insider now owns 6,710,276 shares in the company, valued at approximately $97,164,796.48. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 123,000 shares of company stock worth $1,854,330. 3.42% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDUS. Schwab Charles Investment Management Inc. raised its stake in Radius Health by 13.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 217,152 shares of the biopharmaceutical company’s stock worth $6,400,000 after acquiring an additional 25,642 shares during the period. Swiss National Bank raised its position in shares of Radius Health by 15.8% during the second quarter. Swiss National Bank now owns 66,000 shares of the biopharmaceutical company’s stock valued at $1,945,000 after buying an additional 9,000 shares during the last quarter. Raymond James & Associates raised its position in shares of Radius Health by 15.0% during the second quarter. Raymond James & Associates now owns 18,766 shares of the biopharmaceutical company’s stock valued at $553,000 after buying an additional 2,449 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Radius Health by 4.3% during the second quarter. Voya Investment Management LLC now owns 731,818 shares of the biopharmaceutical company’s stock valued at $21,567,000 after buying an additional 30,003 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Radius Health by 22.3% during the second quarter. Bank of America Corp DE now owns 413,991 shares of the biopharmaceutical company’s stock valued at $12,201,000 after buying an additional 75,462 shares during the last quarter.

About Radius Health

Radius Health, Inc, a biopharmaceutical company, develops and commercializes endocrine therapeutics in the areas of osteoporosis and oncology. The company markets TYMLOS for the treatment of postmenopausal women with osteoporosis. It is also developing abaloparatide transdermal patch, a short-wear-time patch formulation of abaloparatide that is in Phase III clinical trial to treat postmenopausal women with osteoporosis; RAD1901, a selective estrogen receptor down-regulator/degrader, which is in Phase I clinical trial for the treatment of metastatic breast cancer; and RAD140, a non-steroidal selective androgen receptor modulator that is in Phase I clinical trial to treat breast cancer.

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