Keryx Biopharmaceuticals (KERX) Cut to “Strong Sell” at BidaskClub

BidaskClub cut shares of Keryx Biopharmaceuticals (NASDAQ:KERX) from a sell rating to a strong sell rating in a report issued on Thursday, September 13th.

KERX has been the subject of a number of other reports. HC Wainwright set a $9.00 target price on Keryx Biopharmaceuticals and gave the company a buy rating in a research note on Thursday, August 23rd. Zacks Investment Research upgraded Keryx Biopharmaceuticals from a sell rating to a hold rating in a research note on Monday, September 10th. Maxim Group lowered Keryx Biopharmaceuticals from a buy rating to a hold rating in a research note on Thursday, June 28th. Stifel Nicolaus restated a hold rating and issued a $5.00 target price on shares of Keryx Biopharmaceuticals in a research note on Monday, June 25th. Finally, ValuEngine upgraded Keryx Biopharmaceuticals from a sell rating to a hold rating in a research note on Thursday, June 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $6.25.

Shares of NASDAQ KERX traded up $0.01 during trading hours on Thursday, reaching $3.21. The stock had a trading volume of 600,000 shares, compared to its average volume of 1,119,319. The company has a current ratio of 2.28, a quick ratio of 1.40 and a debt-to-equity ratio of -3.16. The firm has a market capitalization of $409.56 million, a price-to-earnings ratio of -3.68 and a beta of 2.44. Keryx Biopharmaceuticals has a twelve month low of $2.78 and a twelve month high of $8.07.

Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). On average, research analysts anticipate that Keryx Biopharmaceuticals will post -0.61 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp raised its stake in Keryx Biopharmaceuticals by 8.8% during the second quarter. Northern Trust Corp now owns 1,190,143 shares of the biopharmaceutical company’s stock worth $4,476,000 after acquiring an additional 96,580 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Keryx Biopharmaceuticals by 10.7% during the second quarter. Bank of New York Mellon Corp now owns 1,056,811 shares of the biopharmaceutical company’s stock worth $3,974,000 after acquiring an additional 102,014 shares in the last quarter. Bank of America Corp DE raised its stake in Keryx Biopharmaceuticals by 57.6% during the second quarter. Bank of America Corp DE now owns 292,056 shares of the biopharmaceutical company’s stock worth $1,098,000 after acquiring an additional 106,737 shares in the last quarter. Abrams Capital Management L.P. raised its stake in Keryx Biopharmaceuticals by 2.4% during the second quarter. Abrams Capital Management L.P. now owns 9,950,055 shares of the biopharmaceutical company’s stock worth $37,412,000 after acquiring an additional 230,879 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Keryx Biopharmaceuticals by 8.8% during the second quarter. BlackRock Inc. now owns 6,613,445 shares of the biopharmaceutical company’s stock worth $24,866,000 after acquiring an additional 534,831 shares in the last quarter. Hedge funds and other institutional investors own 59.52% 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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