Zacks Investment Research Lowers Radius Health, Inc. (RDUS) to Sell

Radius Health, Inc. (NASDAQ:RDUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, July 4th.

According to Zacks, “Although the FDA’s approval of Radius Health’s lead drug, Tymlos, is a significant boost for the company, expenses continues to rise. Although the osteoporosis market in the U.S. has great potential as approximately 1.4 million postmenopausal women in the U.S. experience an osteoporotic fracture each year, Tymlos is expected to face significant competition from Eli Lilly & Co's Forteo and Amgen Inc's Prolia. Moreover, the approved label carries a boxed warning of osteosarcoma (a malignant bone tumor). Hence, we expect investors to focus on the drug’s pricing and uptake post launch. Although we are pleased with Radius' efforts in developing its pipeline, we note that most of its candidates are in their early or mid stages of development. Meanwhile, the company’ shares have outperformed the Zacks classified Medical-Drugs industry in the last six months.”

Several other equities research analysts also recently weighed in on the company. Cantor Fitzgerald restated a “buy” rating and set a $65.00 price target on shares of Radius Health in a report on Friday, April 28th. HC Wainwright restated a “buy” rating and set a $66.00 price target (down previously from $71.00) on shares of Radius Health in a report on Friday, March 24th. Canaccord Genuity restated a “buy” rating on shares of Radius Health in a report on Friday, April 28th. Maxim Group restated a “sell” rating on shares of Radius Health in a report on Monday, May 1st. Finally, Jefferies Group LLC dropped their price objective on Radius Health from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.67.

Radius Health (NASDAQ:RDUS) traded up 2.58% during trading on Tuesday, reaching $42.13. The company’s stock had a trading volume of 354,486 shares. Radius Health has a 1-year low of $31.58 and a 1-year high of $59.88. The stock has a 50 day moving average price of $43.92 and a 200 day moving average price of $40.66. The stock’s market capitalization is $1.83 billion.

Radius Health (NASDAQ:RDUS) last issued its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by $0.14. During the same period in the prior year, the firm posted ($0.94) earnings per share. Analysts anticipate that Radius Health will post ($4.81) earnings per share for the current fiscal year.

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In other news, major shareholder Growth N. V. Biotech purchased 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were purchased at an average price of $33.91 per share, for a total transaction of $2,543,250.00. Following the purchase, the insider now directly owns 4,765,399 shares of the company’s stock, valued at approximately $161,594,680.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Growth N. V. Biotech purchased 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average price of $34.21 per share, for a total transaction of $1,368,400.00. Following the purchase, the insider now directly owns 5,038,799 shares in the company, valued at $172,377,313.79. The disclosure for this purchase can be found here. In the last quarter, insiders bought 498,400 shares of company stock worth $17,411,288. Company insiders own 15.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of RDUS. BB Biotech AG boosted its stake in Radius Health by 4.1% in the first quarter. BB Biotech AG now owns 4,540,399 shares of the biopharmaceutical company’s stock worth $175,486,000 after buying an additional 180,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Radius Health by 3.2% in the first quarter. Vanguard Group Inc. now owns 3,010,646 shares of the biopharmaceutical company’s stock worth $116,362,000 after buying an additional 93,188 shares during the last quarter. BlackRock Inc. boosted its stake in Radius Health by 98,245.6% in the first quarter. BlackRock Inc. now owns 2,630,745 shares of the biopharmaceutical company’s stock worth $101,679,000 after buying an additional 2,628,070 shares during the last quarter. State Street Corp boosted its stake in Radius Health by 58.9% in the fourth quarter. State Street Corp now owns 1,885,161 shares of the biopharmaceutical company’s stock worth $71,694,000 after buying an additional 699,023 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Radius Health by 8.0% in the first quarter. Jennison Associates LLC now owns 957,056 shares of the biopharmaceutical company’s stock worth $36,990,000 after buying an additional 71,018 shares during the last quarter.

About Radius Health

Radius Health, Inc is a biopharmaceutical company. The Company is focused on the developing therapeutics in the areas of osteoporosis, oncology and endocrine diseases. The Company’s lead investigational product candidate, TYMLOS (abaloparatide-SC) injection is developed for the treatment of postmenopausal women with osteoporosis at high risk for fracture.

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