Maxim Group Downgrades Keryx Biopharmaceuticals to Hold

Brokerage firm Maxim Group Downgrades its rating on Keryx Biopharmaceuticals(NASDAQ:KERX). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Maxim Group was issued on Aug 1, 2016.

Keryx Biopharmaceuticals (KERX) shares turned negative on Mondays trading session with the shares closing down -0.28 points or -6.24% at a volume of 28,46,770. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.49. The peak price level was also seen at $4.49 while the days lowest was $4.11. Finally the shares closed at $4.21. The 52-week high of the shares is $7.8 while the 52-week low is $2.8. According to the latest information available, the market cap of the company is $446 M.

Keryx Biopharmaceuticals(KERX) last announced its earnings results on Aug 1, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $9.29M. Analysts had an estimated revenue of $8.47M. Earnings per share were $-0.42. Analysts had estimated an EPS of $-0.28.

Several Insider Transactions has been reported to the SEC. On Jul 27, 2016, John F. Neylan (Chief Medical Officer) sold 1,217 shares at $7.43 per share price.Also, On Jul 18, 2016, Brian Adams (VP and General Counsel) sold 1,083 shares at $7.01 per share price.On Jul 6, 2016, Greg Madison (President and CEO) sold 936 shares at $6.66 per share price, according to the Form-4 filing with the securities and exchange commission.

Keryx Biopharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. Its lead product Auryxia (ferric citrate) an oral absorbable iron-based compound received marketing approval from the United States Food and Drug Administration (FDA) for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis. The approval of Auryxia was based on data from its Phase III registration program in which Auryxia effectively reduced serum phosphorus levels to well within the National Kidney Foundation Kidney Disease Outcomes Quality Initiative (KDOQI) guidelines range of 3.5 to 5.5 mg/dL. In addition to the effects on serum phosphorus levels Auryxia’s pharmacodynamic properties resulted in increased ferritin iron and transferrin saturation (TSAT).

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