Keryx Biopharmaceuticals Earnings: Here’s Why Shares are Up Now
Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.13%.
Keryx Biopharmaceuticals Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.03 in the quarter versus EPS of $-0.13 in the year-earlier quarter.
Revenue: Was the same at $7 million as the year-earlier quarter.
Actual vs. Wall St. Expectations: Keryx Biopharmaceuticals Inc. reported adjusted EPS loss of $0.03 per share. By that measure, the company missed the mean analyst estimate of $-0.01. It beat the average revenue estimate of $5.83 million.
Quoting Management: Ron Bentsur, the Company’s Chief Executive Officer, said, “Following the announcement of top-line data, we are now focusing our efforts and resources toward the pending NDA and MAA submissions. We are also progressing with the U.S. Phase 2 CKD study, for which we expect to report top-line data in the third quarter of 2013.”
Key Stats (on next page)…
EPS increased to $-0.03 in the quarter versus EPS of $-0.09 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.06 to a loss $0.08. For the current year, the average estimate has moved down from a loss of $0.19 to a loss of $0.25 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)