Maxim Group Maintains a Buy Rating on Keryx Biopharma

Maxim Group analyst Jason McCarthy maintained a Buy rating on Keryx Biopharma (NASDAQ: KERX) today and set a price target of $9. The company’s shares opened today at $4.98.

McCarthy commented:

“Keryx reported 1Q18 with total revenue of $21.7M and a net loss of $22.7M. Auryxia US sales for the quarter were $20.6M, up 19% from the prior quarter. The company reported $60M in cash on the balance sheet. Keryx also refinanced $125M in convertible notes and can leverage its growing asset base with a $40M revolving line of credit..”

According to TipRanks.com, McCarthy is a 2-star analyst with an average return of 0.3% and a 37.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Keryx Biopharma has an analyst consensus of Hold.

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The company has a one-year high of $8.38 and a one-year low of $3.92. Currently, Keryx Biopharma has an average volume of 1.11M.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.

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Keryx Biopharmaceuticals, Inc. engages in the development and commercialization of medicines for the treatment of renal disease. Its products include phosphate-binding medicines, intravenous iron, and other medications. The company was founded in October 1998 and is headquartered in Boston, MA.