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

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. Loss estimates have remained stable ahead of Q3 earnings release.”

Several other equities research analysts have also recently weighed in on KERX. ValuEngine upgraded Keryx Biopharmaceuticals from a sell rating to a hold rating in a research note on Thursday, June 21st. Stifel Nicolaus restated a hold rating and set a $5.00 target price on shares of Keryx Biopharmaceuticals in a research note on Monday, June 25th. HC Wainwright started coverage on Keryx Biopharmaceuticals in a research note on Thursday, June 28th. They set a buy rating and a $9.00 target price for the company. Maxim Group cut Keryx Biopharmaceuticals from a buy rating to a hold rating in a research note on Thursday, June 28th. Finally, BidaskClub cut Keryx Biopharmaceuticals from a hold rating to a sell rating in a research note on Saturday, June 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Keryx Biopharmaceuticals presently has a consensus rating of Hold and an average price target of $6.25.

KERX stock opened at $3.22 on Tuesday. The company has a market cap of $409.56 million, a P/E ratio of -3.66 and a beta of 2.44. Keryx Biopharmaceuticals has a fifty-two week low of $2.78 and a fifty-two week high of $7.15. The company has a debt-to-equity ratio of -3.16, a current ratio of 2.28 and a quick ratio of 1.40.

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

A number of hedge funds have recently bought and sold shares of the stock. Millennium Management LLC acquired a new position in Keryx Biopharmaceuticals during the first quarter worth approximately $3,847,000. BlackRock Inc. increased its position in Keryx Biopharmaceuticals by 8.8% during the second quarter. BlackRock Inc. now owns 6,613,445 shares of the biopharmaceutical company’s stock worth $24,866,000 after buying an additional 534,831 shares during the period. Rice Hall James & Associates LLC increased its position in Keryx Biopharmaceuticals by 18.9% during the second quarter. Rice Hall James & Associates LLC now owns 2,278,007 shares of the biopharmaceutical company’s stock worth $8,565,000 after buying an additional 361,533 shares during the period. Summit Trail Advisors LLC increased its position in Keryx Biopharmaceuticals by 355.3% during the first quarter. Summit Trail Advisors LLC now owns 333,803 shares of the biopharmaceutical company’s stock worth $334,000 after buying an additional 260,485 shares during the period. Finally, Abrams Capital Management L.P. increased its position in Keryx Biopharmaceuticals by 2.4% during the second quarter. Abrams Capital Management L.P. now owns 9,950,055 shares of the biopharmaceutical company’s stock worth $37,412,000 after buying an additional 230,879 shares during the period. Hedge funds and other institutional investors own 59.52% of the company’s stock.

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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