Radius Health, Inc. (RDUS) Cut to “Sell” at Zacks Investment Research
Radius Health, Inc. (NASDAQ:RDUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “The FDA’s approval of Radius Health’s lead candidate, Tymlos, is a significant boost for the company. The company is moving ahead with its plans in contracting with managed care organizations with access to over 133 million covered lives across Commercial and Medicare Part D plans. Although the osteoporosis market in the U.S. has a great potential as approximately 1.4 million postmenopausal women in the U.S. experience an osteoporotic fracture each year, Tymlos is expected to face significant competition from Eli Lilly &Co's Forteo and Amgen’s Prolia. Further, the company suffered a setback when the CHMP issued a second Day-180 List of Outstanding Issues to its MAA for Eladynos in Europe. While Radius' efforts in developing its pipeline are encouraging, we note that most of its candidates are in their early or mid stages of development. The company’ shares have underperformed the industry in the year so far.”
RDUS has been the subject of a number of other reports. ValuEngine upgraded Radius Health from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. BidaskClub upgraded shares of Radius Health from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Canaccord Genuity set a $85.00 price objective on shares of Radius Health and gave the stock a “buy” rating in a report on Monday, July 17th. Cantor Fitzgerald set a $65.00 price objective on shares of Radius Health and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $38.00 price objective (up previously from $34.00) on shares of Radius Health in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Radius Health has a consensus rating of “Hold” and a consensus price target of $53.60.
Radius Health (NASDAQ:RDUS) traded down 1.0790% on Wednesday, hitting $38.9353. 292,064 shares of the company were exchanged. The firm’s market cap is $1.69 billion. The stock has a 50 day moving average price of $36.31 and a 200 day moving average price of $38.70. Radius Health has a one year low of $31.58 and a one year high of $55.97.
Radius Health (NASDAQ:RDUS) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($1.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.35) by ($0.23). The business had revenue of $0.98 million during the quarter, compared to analysts’ expectations of $1.96 million. During the same period last year, the firm posted ($1.01) EPS. On average, equities research analysts forecast that Radius Health will post ($5.58) EPS for the current fiscal year.
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In other Radius Health news, major shareholder Growth N. V. Biotech acquired 60,000 shares of Radius Health stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $35.98 per share, with a total value of $2,158,800.00. Following the completion of the purchase, the insider now owns 5,248,799 shares in the company, valued at $188,851,788.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Growth N. V. Biotech acquired 150,000 shares of Radius Health stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $34.97 per share, for a total transaction of $5,245,500.00. Following the completion of the purchase, the insider now owns 5,113,799 shares of the company’s stock, valued at approximately $178,829,551.03. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 469,100 shares of company stock valued at $16,328,382. 15.00% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. bought a new position in shares of Radius Health in the 1st quarter worth $105,000. Sei Investments Co. grew its stake in shares of Radius Health by 27.7% during the second quarter. Sei Investments Co. now owns 3,180 shares of the biopharmaceutical company’s stock worth $144,000 after purchasing an additional 690 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Radius Health by 1.1% during the first quarter. Envestnet Asset Management Inc. now owns 4,231 shares of the biopharmaceutical company’s stock worth $163,000 after purchasing an additional 46 shares during the period. Advisor Group Inc. grew its stake in shares of Radius Health by 267.2% during the second quarter. Advisor Group Inc. now owns 3,969 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 2,888 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of Radius Health during the second quarter worth $205,000.
About Radius Health
Radius Health, Inc is a biopharmaceutical company. The Company is focused on the developing therapeutics in the areas of osteoporosis, oncology and endocrine diseases. The Company’s lead investigational product candidate, TYMLOS (abaloparatide-SC) injection is developed for the treatment of postmenopausal women with osteoporosis at high risk for fracture.
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