Maxim Group Remains a Hold on Keryx Biopharma (KERX)

In a report released today, Jason McCarthy from Maxim Group maintained a Hold rating on Keryx Biopharma (NASDAQ: KERX). The company’s shares opened today at $3.96, close to its 52-week low of $3.30.

McCarthy observed:

“Keryx reported 2Q18 with total revenue of $25.7M, a slight miss from the consensus estimate of $26M. US Auryxia sales for the quarter were $24.1M up 17% q/q, demonstrating slow but steady revenue growth in the large and mature phosphate binder market. The company reported a net loss of $(21.5M) and ended the quarter with $49.5M in cash.”

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 11.4% and a 45.2% 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 $7.33 average price target.

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The company has a one-year high of $8.07 and a one-year low of $3.30. Currently, Keryx Biopharma has an average volume of 1.22M.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, Kevin J. Cameron, a Director at KERX bought 10,000 shares for a total of $4,800.

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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.