Keryx Biopharmaceuticals (KERX) is Downgraded by Maxim Group to Hold

Keryx Biopharmaceuticals (KERX) was Downgraded by Maxim Group to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Maxim Group advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Keryx Biopharmaceuticals. Company shares were Reiterated by Maxim Group on Jul 8, 2016 to “Buy”, Firm has raised the Price Target to $ 9 from a previous price target of $7 .

On the company’s financial health, Keryx Biopharmaceuticals reported $-0.42 EPS for the quarter, missing the analyst consensus estimate by $ -0.16 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $-0.26. The company had revenue of $9.30 million for the quarter, compared to analysts expectations of $8.48 million. The company’s revenue was up 272.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.26 EPS.

Keryx Biopharmaceuticals (KERX) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $7.37 and reached the intraday high at $7.46. The bulls started the profit booking and pushed the shares to intraday low of $7.25. The trading session was marked by a volume range of 12,25,535 shares exchanging hands. The 52-week high of the shares is $8.3 and the 52-week low is $2.8. The market cap of the company stands at $779 M and there are 10,58,20,947 shares in public circulation.

In a different news, on Jul 27, 2016, John F. Neylan (Chief Medical Officer) sold 1,217 shares at $7.43 per share price. According to the SEC, on Jul 18, 2016, Brian Adams (VP and General Counsel) sold 1,083 shares at $7.01 per share price. On Jul 6, 2016, Greg Madison (President and CEO) sold 936 shares at $6.66 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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