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Keryx Biopharma (KERX) Receives a Hold from Maxim Group


In a report released today, Jason McCarthy from Maxim Group maintained a Hold rating on Keryx Biopharma (KERX). The company’s shares closed yesterday at $3.03, close to its 52-week low of $2.74.

McCarthy noted:

“Keryx reported 3Q18 with total revenue of $28.0M, a slight miss from the consensus estimate of $29.1M. US Auryxia sales for the quarter were $26.6M up 11% q/q, driven by increased RX volume. The company reported a net loss of ($17.0M) and ended the quarter with $41.1M in cash.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 5.3% and a 40.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Keryx Biopharma with a $9 average price target.

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Based on Keryx Biopharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $21.52 million. In comparison, last year the company had a GAAP net loss of $23.5 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock.

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Keryx Biopharmaceuticals, Inc. engages in the manufacture, development, and commercialization of medicines for use in treating human diseases. Its product is the Auryxia tablet. The company was founded in October 1998 and is headquartered in Boston, MA.