Keryx Biopharmaceuticals (KERX) is Reiterated by Maxim Group to Buy, Raises Price Target to $ 9

Keryx Biopharmaceuticals (KERX) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 9 from a previous price target of $7 . Maxim Group advised their investors in a research report released on Jul 8, 2016.

On the company’s financial health, Keryx Biopharmaceuticals reported $-0.39 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.24. The company had revenue of $6.80 million for the quarter, compared to analysts expectations of $6.96 million. The company’s revenue was up 466.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.28 EPS.

Keryx Biopharmaceuticals opened for trading at $6.7 and hit $6.93 on the upside on Tuesday, eventually ending the session at $6.81, with a gain of 0.15% or 0.01 points. The heightened volatility saw the trading volume jump to 10,04,297 shares. Company has a market cap of $721 M.

In a different news, on Jul 6, 2016, Brian Adams (VP and General Counsel) sold 660 shares at $6.66 per share price. According to the SEC, on Jul 6, 2016, Greg Madison (President and CEO) sold 936 shares at $6.66 per share price. On Apr 27, 2016, John F. Neylan (Chief Medical Officer) sold 4,766 shares at $5.21 per share price, according to the Form-4 filing with the securities and exchange commission.

Keryx Biopharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. Its lead product Auryxia (ferric citrate) an oral absorbable iron-based compound received marketing approval from the United States Food and Drug Administration (FDA) for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis. The approval of Auryxia was based on data from its Phase III registration program in which Auryxia effectively reduced serum phosphorus levels to well within the National Kidney Foundation Kidney Disease Outcomes Quality Initiative (KDOQI) guidelines range of 3.5 to 5.5 mg/dL. In addition to the effects on serum phosphorus levels Auryxia’s pharmacodynamic properties resulted in increased ferritin iron and transferrin saturation (TSAT).

Keryx Biopharmaceuticals

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