Keryx Biopharmaceuticals Inc. (KERX) Receives Outperform Rating from JMP Securities
Keryx Biopharmaceuticals Inc. (NASDAQ:KERX)‘s stock had its “outperform” rating reaffirmed by JMP Securities in a note issued to investors on Thursday.
The analysts wrote, “Hogan Reward”The expert cited Keryx Biopharmaceuticals (NASDAQ: KERX)’s sulodexide as an example of a development-stage asset that failed such a confirmation in another kidney disease called diabetic nephropathy.The DUET study has rolled over onto the open-label portion, although the active control irbesartan will not be carried forward, thus it may be difficult to detect a treatment benefit.”We believe that we will need to wait until year end to determine if the company can convince the FDA that an accelerated approval pathway can meet the agency’s needs,” analyst Liisa Bayko wrote in a note.”Our sensitivity analysis shows that the stock currently reflects the sentiment that accelerated approval is unlikely,”
KERX has been the subject of several other reports. FBR & Co reissued a “buy” rating and issued a $13.00 price objective on shares of Keryx Biopharmaceuticals in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, May 20th. 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 report on Friday, July 8th. Raymond James Financial Inc. boosted their price target on shares of Keryx Biopharmaceuticals from $7.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. Finally, Ladenburg Thalmann boosted their price target on shares of Keryx Biopharmaceuticals from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.75.
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Keryx Biopharmaceuticals (NASDAQ:KERX) traded up 1.78% during midday trading on Thursday, hitting $4.57. 2,933,754 shares of the stock were exchanged. Keryx Biopharmaceuticals has a 12 month low of $2.80 and a 12 month high of $7.80. The firm’s 50 day moving average price is $5.07 and its 200 day moving average price is $5.36. The company’s market cap is $483.94 million.
Keryx Biopharmaceuticals (NASDAQ:KERX) last released its quarterly earnings data on Monday, August 1st. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.14. The business had revenue of $9.30 million for the quarter, compared to the consensus estimate of $8.60 million. Keryx Biopharmaceuticals’s revenue for the quarter was up 272.0% compared to the same quarter last year. During the same period last year, the business posted ($0.26) earnings per share. On average, equities research analysts forecast that Keryx Biopharmaceuticals will post ($1.24) earnings per share for the current fiscal year.
In other Keryx Biopharmaceuticals news, CFO Scott A. Holmes sold 4,935 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $7.36, for a total transaction of $36,321.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.08% of the company’s stock.
A number of hedge funds and institutional investors recently modified their holdings of KERX. Metropolitan Life Insurance Co. NY raised its position in shares of Keryx Biopharmaceuticals by 1.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 75,108 shares of the biopharmaceutical company’s stock worth $351,000 after buying an additional 874 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in Keryx Biopharmaceuticals by 1.3% in the second quarter. Rice Hall James & Associates LLC now owns 912,830 shares of the biopharmaceutical company’s stock valued at $6,043,000 after buying an additional 11,767 shares during the period. BlackRock Group LTD increased its stake in Keryx Biopharmaceuticals by 35.1% in the first quarter. BlackRock Group LTD now owns 48,223 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 12,536 shares during the period. LMR Partners LLP acquired a new stake in Keryx Biopharmaceuticals during the second quarter valued at approximately $125,000. Finally, Geode Capital Management LLC increased its stake in Keryx Biopharmaceuticals by 5.4% in the first quarter. Geode Capital Management LLC now owns 699,895 shares of the biopharmaceutical company’s stock valued at $3,268,000 after buying an additional 36,038 shares during the period. Institutional investors and hedge funds own 61.13% of the company’s stock.
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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