HC Wainwright reissued their buy rating on shares of Keryx Biopharmaceuticals (NASDAQ:KERX) in a research note released on Friday. They currently have a $9.00 target price on the biopharmaceutical company’s stock.
“Valuation compelling. Keryx stock price has pulled back since the merger was announced in June, losing 33% of its value versus the XBI Biotech index losing only 9%. However we see only improving fundamentals as Auryxia revenues continue to improve QoQ.”,” the firm’s analyst wrote.
Several other equities analysts have also recently issued reports on the company. Maxim Group restated a hold rating on shares of Keryx Biopharmaceuticals in a research report on Friday. BidaskClub cut Keryx Biopharmaceuticals from a hold rating to a sell rating in a research report on Thursday. Zacks Investment Research upgraded Keryx Biopharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, October 9th. Finally, Citigroup dropped their target price on Keryx Biopharmaceuticals from $4.75 to $4.00 and set a neutral rating on the stock in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Keryx Biopharmaceuticals currently has a consensus rating of Hold and a consensus price target of $6.25.
Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The company had revenue of $28.04 million during the quarter, compared to analyst estimates of $29.56 million. As a group, equities research analysts predict that Keryx Biopharmaceuticals will post -0.61 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KERX. Millennium Management LLC acquired a new position in Keryx Biopharmaceuticals during the 1st quarter worth approximately $3,847,000. BlackRock Inc. increased its position in Keryx Biopharmaceuticals by 8.9% during the 3rd quarter. BlackRock Inc. now owns 7,199,683 shares of the biopharmaceutical company’s stock worth $24,479,000 after purchasing an additional 586,238 shares during the period. FMR LLC acquired a new position in Keryx Biopharmaceuticals during the 3rd quarter worth approximately $1,954,000. Rice Hall James & Associates LLC increased its position in Keryx Biopharmaceuticals by 18.9% during the 2nd quarter. Rice Hall James & Associates LLC now owns 2,278,007 shares of the biopharmaceutical company’s stock worth $8,565,000 after purchasing an additional 361,533 shares during the period. Finally, Abrams Capital Management L.P. increased its position in Keryx Biopharmaceuticals by 2.4% during the 2nd quarter. Abrams Capital Management L.P. now owns 9,950,055 shares of the biopharmaceutical company’s stock worth $37,412,000 after purchasing an additional 230,879 shares during the period. Institutional investors own 59.41% of the company’s stock.
About Keryx Biopharmaceuticals
Keryx Biopharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on providing medicines for patients with kidney disease in the United States. It markets its lead product Auryxia (ferric citrate), an orally available, absorbable, iron-based medicine for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis, as well as for the treatment of iron deficiency anemia in adults with CKD not on dialysis.
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