Keryx Biopharmaceuticals (NASDAQ:KERX)‘s stock had its “buy” rating restated by equities researchers at Maxim Group in a research note issued on Monday. They currently have a $7.00 target price on the biopharmaceutical company’s stock. Maxim Group’s price target suggests a potential upside of 20.07% from the company’s current price.
The analysts wrote, “Keryx announced that the nation’s largest Medicare Part D plan sponsor has added Auryxia to its Medicare Part D plan formularies, effective immediately. Auryxia is currently indicated in the U.S. for the control of serum phosphorus levels in people with chronic kidney disease (CKD) on dialysis. Addition to these Part D plan formularies significantly increases unrestricted access to Auryxia for people on dialysis and their caregivers.””
Separately, Citigroup Inc raised Keryx Biopharmaceuticals from a “sell” rating to a “neutral” rating and set a $7.00 price target for the company in a report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Keryx Biopharmaceuticals has a consensus rating of “Hold” and an average target price of $7.20.
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) traded up 7.89% during trading on Monday, hitting $6.29. The company had a trading volume of 3,076,254 shares. The stock’s market capitalization is $677.23 million. The firm’s 50 day moving average is $5.21 and its 200-day moving average is $5.31. Keryx Biopharmaceuticals has a 52 week low of $4.03 and a 52 week high of $7.80.
Keryx Biopharmaceuticals (NASDAQ:KERX) last released its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.07. Keryx Biopharmaceuticals had a negative net margin of 584.76% and a negative return on equity of 270.26%. The company had revenue of $9.53 million for the quarter, compared to the consensus estimate of $9.65 million. During the same period in the prior year, the firm posted ($0.36) EPS. The business’s revenue for the quarter was up 64.9% on a year-over-year basis. Equities research analysts anticipate that Keryx Biopharmaceuticals will post ($0.67) EPS for the current fiscal year.
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In other news, insider Greg Madison sold 18,248 shares of the company’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $4.65, for a total value of $84,853.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott A. Holmes sold 8,447 shares of the company’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $4.65, for a total value of $39,278.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,208 shares of company stock valued at $183,508. Corporate insiders own 3.08% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in Keryx Biopharmaceuticals by 22.6% in the third quarter. Ameriprise Financial Inc. now owns 1,917,643 shares of the biopharmaceutical company’s stock worth $10,183,000 after buying an additional 353,444 shares during the period. Norges Bank acquired a new position in Keryx Biopharmaceuticals during the fourth quarter worth $9,973,000. Rice Hall James & Associates LLC raised its position in Keryx Biopharmaceuticals by 45.3% in the third quarter. Rice Hall James & Associates LLC now owns 1,325,917 shares of the biopharmaceutical company’s stock worth $7,041,000 after buying an additional 413,087 shares during the period. Deerfield Management Co. acquired a new position in Keryx Biopharmaceuticals during the fourth quarter worth $7,568,000. Finally, Bank of New York Mellon Corp raised its position in Keryx Biopharmaceuticals by 18.0% in the third quarter. Bank of New York Mellon Corp now owns 1,115,068 shares of the biopharmaceutical company’s stock worth $5,922,000 after buying an additional 169,936 shares during the period. 61.74% of the stock is owned by hedge funds and other institutional investors.
About Keryx Biopharmaceuticals
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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