Zacks Investment Research downgraded shares of Radius Health (NASDAQ:RDUS) from a hold rating to a sell rating in a research note published on Thursday.
According to Zacks, “Radius got a boost with the approval of lead drug Tymlos. Sales of Tymlos continue to gain traction. Total prescriptions accounted for 22% of total U.S. anabolic osteoporosis market (based on Patient Months on Therapy, TRx PMOT) in the quarter. Tymlos is expected to be covered for approximately 274 million insured lives, representing approximately 95% of U.S. commercial and 64% of Medicare insured lives effective Jan 1, 2019. However, Radius suffered a setback when the CHMP communicated a negative trend vote for the MAA following a re-examination procedure of lead drug Tymlos. Thereafter, the CHMP communicated that it maintained its negative opinion on the MAA at its formal final vote. While the market for postmenopausal osteoporosis provides significant commercial potential, it is pretty crowded given the presence of products like Amgen’s Prolia and Lilly’s Forteo. Shares have underperformed the industry in the last six months.”
Several other equities research analysts have also issued reports on the stock. Cowen reiterated a hold rating on shares of Radius Health in a research note on Thursday, October 18th. BidaskClub upgraded shares of Radius Health from a strong sell rating to a sell rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. lowered their price target on shares of Radius Health from $59.00 to $52.00 and set an overweight rating on the stock in a research note on Friday, November 2nd. Finally, ValuEngine lowered shares of Radius Health from a hold rating to a sell rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $44.50.
RDUS traded down $0.50 during trading on Thursday, hitting $16.44. The company had a trading volume of 523,800 shares, compared to its average volume of 729,037. The stock has a market capitalization of $755.50 million, a P/E ratio of -2.83 and a beta of 0.94. Radius Health has a one year low of $12.81 and a one year high of $41.16. The company has a current ratio of 5.50, a quick ratio of 5.39 and a debt-to-equity ratio of 1.85.
Radius Health (NASDAQ:RDUS) last posted its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($1.09) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.17. The business had revenue of $27.70 million for the quarter, compared to analysts’ expectations of $26.00 million. Radius Health had a negative net margin of 346.67% and a negative return on equity of 140.79%. The firm’s revenue was up 105.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.31) EPS. On average, equities research analysts predict that Radius Health will post -5.17 EPS for the current fiscal year.
In other news, major shareholder Growth N. V. Biotech acquired 60,000 shares of the stock in a transaction dated Friday, December 14th. The shares were bought at an average cost of $15.64 per share, for a total transaction of $938,400.00. Following the purchase, the insider now directly owns 6,650,276 shares of the company’s stock, valued at $104,010,316.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph Francis Kelly acquired 3,000 shares of the stock in a transaction dated Monday, December 17th. The shares were purchased at an average price of $15.71 per share, for a total transaction of $47,130.00. Following the completion of the purchase, the vice president now directly owns 3,000 shares in the company, valued at $47,130. The disclosure for this purchase can be found here. Insiders acquired a total of 123,000 shares of company stock worth $1,854,330 over the last quarter. Company insiders own 3.42% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC acquired a new position in shares of Radius Health during the 3rd quarter worth about $110,000. Cubist Systematic Strategies LLC increased its stake in shares of Radius Health by 9,303.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,403 shares of the biopharmaceutical company’s stock worth $277,000 after purchasing an additional 9,303 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Radius Health during the 3rd quarter worth about $186,000. Verition Fund Management LLC acquired a new position in shares of Radius Health during the 3rd quarter worth about $208,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Radius Health during the 3rd quarter worth about $264,000.
About Radius Health
Radius Health, Inc, a biopharmaceutical company, develops and commercializes endocrine therapeutics in the areas of osteoporosis and oncology. The company markets TYMLOS for the treatment of postmenopausal women with osteoporosis. It is also developing abaloparatide transdermal patch, a short-wear-time patch formulation of abaloparatide that is in Phase III clinical trial to treat postmenopausal women with osteoporosis; RAD1901, a selective estrogen receptor down-regulator/degrader, which is in Phase I clinical trial for the treatment of metastatic breast cancer; and RAD140, a non-steroidal selective androgen receptor modulator that is in Phase I clinical trial to treat breast cancer.
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