.jpg "Keryx Biopharma (NASDAQ: KERX)")
In a report released today, Jason McCarthy from Maxim Group downgraded Keryx Biopharma (NASDAQ: KERX) to Hold. The company’s shares opened today at $4.55.
McCarthy wrote:
“Therapeutics announced a definitive merger agreement under which the companies will combine in an all-stock merger. The combined company will be called the current CEO of Akebia, John P. Butler, will be President and CEO. We note that Keryx will appoint the Chairperson of the Board of the combined company. The deal is expected to close by YE18. Shares of both companies are down ~23-26% on the news. We are downgrading KERX shares to Hold, from Buy.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 11.0% and a 39.0% 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 Moderate Buy, with a price target consensus of $9.
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The company has a one-year high of $8.38 and a one-year low of $3.30. Currently, Keryx Biopharma has an average volume of 1.06M.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Kevin J. Cameron, a Director at KERX bought 10,000 shares for a total of $4,800.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
