Keryx Biopharmaceuticals, Inc. (KERX) Rating Reiterated by Morgan Stanley
Morgan Stanley reissued their equal weight rating on shares of Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) in a report released on Tuesday morning. The brokerage currently has a $7.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $4.00.
Several other research firms have also recently issued reports on KERX. Maxim Group raised their target price on shares of Keryx Biopharmaceuticals from $7.00 to $9.00 and gave the stock a buy rating in a research report on Monday, May 15th. Cowen and Company reissued a hold rating on shares of Keryx Biopharmaceuticals in a research report on Saturday, June 17th. BidaskClub cut shares of Keryx Biopharmaceuticals from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Keryx Biopharmaceuticals from a hold rating to a buy rating and set a $8.75 target price on the stock in a research report on Wednesday, July 12th. Finally, ValuEngine cut shares of Keryx Biopharmaceuticals from a hold rating to a sell rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Keryx Biopharmaceuticals currently has an average rating of Hold and a consensus target price of $8.11.
Keryx Biopharmaceuticals (KERX) traded up 0.42% on Tuesday, hitting $7.09. 1,957,679 shares of the company’s stock traded hands. The stock has a 50-day moving average of $7.12 and a 200-day moving average of $6.09. Keryx Biopharmaceuticals has a one year low of $4.03 and a one year high of $8.38. The stock’s market cap is $840.19 million.
Keryx Biopharmaceuticals (NASDAQ:KERX) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.60. Keryx Biopharmaceuticals had a negative return on equity of 1,122.28% and a negative net margin of 431.89%. The firm had revenue of $15.10 million for the quarter, compared to analyst estimates of $14.51 million. During the same period in the prior year, the business earned ($0.42) earnings per share. Keryx Biopharmaceuticals’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, equities analysts forecast that Keryx Biopharmaceuticals will post ($0.93) earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake in Keryx Biopharmaceuticals by 15.0% in the second quarter. Janney Montgomery Scott LLC now owns 76,565 shares of the biopharmaceutical company’s stock worth $554,000 after buying an additional 10,000 shares in the last quarter. Lincoln Capital Corp raised its stake in Keryx Biopharmaceuticals by 20.5% in the second quarter. Lincoln Capital Corp now owns 36,500 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 6,200 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Keryx Biopharmaceuticals during the second quarter worth about $648,000. Point72 Asset Management L.P. purchased a new stake in Keryx Biopharmaceuticals during the first quarter worth about $616,000. Finally, Credit Suisse AG raised its stake in Keryx Biopharmaceuticals by 113.2% in the first quarter. Credit Suisse AG now owns 166,497 shares of the biopharmaceutical company’s stock worth $1,025,000 after buying an additional 88,411 shares in the last quarter. Institutional investors own 62.26% of the company’s stock.
Keryx Biopharmaceuticals Company Profile
Keryx Biopharmaceuticals, Inc is a biopharmaceutical company focused on the development of medicines for people with renal disease. The Company is engaged in the manufacture, development and commercialization of products for use in treating human diseases. Its marketed product, Auryxia (ferric citrate), which is an orally available, absorbable, iron-based medicine is approved in the United States for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis.
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