Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

According to Zacks, “Keryx’s loss in third-quarter 2017 was wider than expected while sales missed estimates. With Auryxia being the only approved product in Keryx’s portfolio, the company is entirely dependent on it for growth. Meanwhile, Auryxia faces stiff competition in the United States from existing players, apart from over-the-counter drugs like some calcium carbonate and metal-based products. Also, Keryx may face strong pricing pressure for Auryxia. In fact, the drug witnessed a sequential decline in sales in the quarter due to change in the payer mix as well as lower-than-expected growth in prescriptions. Consequently, shares of the company underperformed the industry. However, on a positive note, the FDA approval for the label expansion of Auryxia to treat adults with iron deficiency anemia (IDA) and chronic kidney disease, not on dialysis, might boost sales of the company, given that the IDA market holds great potential.”

Other research analysts have also recently issued research reports about the company. BidaskClub raised Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. ValuEngine downgraded shares of Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Maxim Group reissued a “buy” rating and set a $9.00 target price on shares of Keryx Biopharmaceuticals in a research note on Thursday, July 20th. Cowen and Company reissued a “market perform” rating on shares of Keryx Biopharmaceuticals in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus cut their target price on shares of Keryx Biopharmaceuticals from $7.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $7.35.

Keryx Biopharmaceuticals (NASDAQ:KERX) traded down $0.08 during midday trading on Friday, hitting $4.83. The company’s stock had a trading volume of 3,248,500 shares, compared to its average volume of 1,508,571. Keryx Biopharmaceuticals has a 52 week low of $4.47 and a 52 week high of $8.38. The company has a current ratio of 4.46, a quick ratio of 3.76 and a debt-to-equity ratio of 13.95.

Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). The company had revenue of $15.00 million during the quarter, compared to the consensus estimate of $18.88 million. Keryx Biopharmaceuticals had a negative net margin of 323.92% and a negative return on equity of 10,954.62%. Keryx Biopharmaceuticals’s quarterly revenue was up 138.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.39) EPS. analysts anticipate that Keryx Biopharmaceuticals will post -1.34 EPS for the current year.

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Institutional investors have recently bought and sold shares of the company. Westpac Banking Corp purchased a new position in shares of Keryx Biopharmaceuticals during the 2nd quarter valued at $390,000. TIAA CREF Investment Management LLC boosted its holdings in Keryx Biopharmaceuticals by 3.6% in the second quarter. TIAA CREF Investment Management LLC now owns 220,336 shares of the biopharmaceutical company’s stock worth $1,593,000 after purchasing an additional 7,576 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Keryx Biopharmaceuticals in the second quarter worth $402,000. Schwab Charles Investment Management Inc. boosted its holdings in Keryx Biopharmaceuticals by 1.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 441,106 shares of the biopharmaceutical company’s stock worth $3,190,000 after purchasing an additional 4,388 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Keryx Biopharmaceuticals by 39.2% in the second quarter. Alliancebernstein L.P. now owns 191,650 shares of the biopharmaceutical company’s stock worth $1,386,000 after purchasing an additional 54,010 shares in the last quarter. Institutional investors and hedge funds own 65.44% of the company’s stock.

About Keryx Biopharmaceuticals

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.

Analyst Recommendations for Keryx Biopharmaceuticals (NASDAQ:KERX)

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