Zacks Investment Research cut shares of Keryx Biopharmaceuticals (NASDAQ:KERX) from a hold rating to a sell rating in a report published on Monday.

According to Zacks, “Keryx is completely dependent on Auryxia for growth as it is the only approved product in the company’s portfolio. Auryxia faces stiff competition in the United States from existing players. Shares of the company have underperformed the industry so far this year.  However, Keryx's launch of Auryxia for the second indication — iron deficiency anemia (IDA) in chronic kidney disease patients — is boosting sales of the company, given that the IDA market holds great potential. Keryx entered a definitive merger agreement with Akebia Therapeutics that will create a fully integrated company focused on the development and commercialization of therapeutics for patients with chronic kidney diseases. The combined company will be well positioned to create significant shareholder value and accelerate growth beyond what either company would achieve separately.”

Several other equities analysts also recently weighed in on KERX. ValuEngine upgraded shares of Keryx Biopharmaceuticals from a sell rating to a hold rating in a report on Thursday, June 21st. Stifel Nicolaus reiterated a hold rating and issued a $5.00 price target on shares of Keryx Biopharmaceuticals in a report on Monday, June 25th. HC Wainwright started coverage on shares of Keryx Biopharmaceuticals in a report on Thursday, June 28th. They issued a buy rating and a $9.00 price target on the stock. Maxim Group downgraded shares of Keryx Biopharmaceuticals from a buy rating to a hold rating in a report on Thursday, June 28th. Finally, BidaskClub downgraded shares of Keryx Biopharmaceuticals from a hold rating to a sell rating in a report on Saturday, June 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $6.25.

Shares of NASDAQ:KERX opened at $3.20 on Monday. Keryx Biopharmaceuticals has a twelve month low of $2.78 and a twelve month high of $8.07. The company has a current ratio of 2.28, a quick ratio of 1.40 and a debt-to-equity ratio of -3.16.

Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.02). sell-side analysts anticipate that Keryx Biopharmaceuticals will post -0.61 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of KERX. Russell Investments Group Ltd. acquired a new stake in shares of Keryx Biopharmaceuticals during the 1st quarter worth approximately $201,000. Mackay Shields LLC acquired a new stake in shares of Keryx Biopharmaceuticals during the 1st quarter worth approximately $294,000. Summit Trail Advisors LLC grew its stake in shares of Keryx Biopharmaceuticals by 355.3% during the 1st quarter. Summit Trail Advisors LLC now owns 333,803 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 260,485 shares during the period. Shufro Rose & Co. LLC grew its stake in shares of Keryx Biopharmaceuticals by 26.1% during the 2nd quarter. Shufro Rose & Co. LLC now owns 91,800 shares of the biopharmaceutical company’s stock worth $345,000 after purchasing an additional 19,000 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Keryx Biopharmaceuticals during the 2nd quarter worth approximately $399,000. 59.52% of the stock is currently owned by institutional investors and hedge funds.

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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