Zacks Investment Research Downgrades Radius Health (RDUS) to Sell

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Zacks Investment Research lowered shares of Radius Health (NASDAQ:RDUS) from a hold rating to a sell rating in a research note published on Thursday morning.

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.”

A number of other analysts also recently weighed in on the stock. Cowen reaffirmed a hold rating on shares of Radius Health in a report on Thursday, October 18th. JPMorgan Chase & Co. cut their price target on shares of Radius Health from $59.00 to $52.00 and set an overweight rating for the company in a report on Friday, November 2nd. BidaskClub downgraded shares of Radius Health from a sell rating to a strong sell rating in a report on Tuesday, November 13th. Finally, ValuEngine downgraded shares of Radius Health from a hold rating to a sell rating in a report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $44.50.

NASDAQ RDUS traded down $0.50 during trading on Thursday, reaching $16.44. The company’s stock had a trading volume of 523,800 shares, compared to its average volume of 729,037. The company has a quick ratio of 5.39, a current ratio of 5.50 and a debt-to-equity ratio of 1.85. The company 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 12 month low of $12.81 and a 12 month high of $41.16.

Radius Health (NASDAQ:RDUS) last posted its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($1.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.26) by $0.17. The firm had revenue of $27.70 million during the quarter, compared to the consensus estimate of $26.00 million. Radius Health had a negative net margin of 346.67% and a negative return on equity of 140.79%. The business’s revenue for the quarter was up 105.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.31) EPS. Equities analysts expect that Radius Health will post -5.17 EPS for the current year.

In related news, VP Joseph Francis Kelly acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The stock was acquired at an average price of $15.71 per share, with a total value of $47,130.00. Following the purchase, the vice president now directly owns 3,000 shares in the company, valued at $47,130. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Growth N. V. Biotech acquired 60,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was bought at an average cost of $15.64 per share, with a total value of $938,400.00. Following the purchase, the insider now owns 6,650,276 shares in the company, valued at $104,010,316.64. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 123,000 shares of company stock valued at $1,854,330. 3.42% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Belpointe Asset Management LLC bought a new position in Radius Health in the 3rd quarter valued at approximately $110,000. Pacer Advisors Inc. bought a new position in Radius Health in the 3rd quarter valued at approximately $186,000. Verition Fund Management LLC bought a new position in Radius Health in the 3rd quarter valued at approximately $208,000. Dynamic Technology Lab Private Ltd bought a new position in Radius Health in the 3rd quarter valued at approximately $264,000. Finally, Opera Trading Capital bought a new position in Radius Health in the 3rd quarter valued at approximately $275,000.

Radius Health Company Profile

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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