Why Keryx Biopharmaceuticals (KERX) Stock Is Falling Today

NEW YORK (TheStreet) -- Keryx Biopharmaceuticals (KERX) shares are down -7% to $15.80 on Monday after being downgraded to "underperform" from "market perform" by analysts at FBR Capital  (FBRC) .

The firm also lowered its peak ferric citrate U.S. dialysis revenue estimate to $476M from $951M, while also lowering its price target to $14 from $16 after the company's ferric citrate treatment "Zerenex" was given a restrictive label by the FDA.

TheStreet has full coverage of the implications of the FDA's decision here.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

KERX Chart KERX data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.

More from Markets

Trump Takes Aim at Auto Imports; Markets End Mixed -- ICYMI

Trump Takes Aim at Auto Imports; Markets End Mixed -- ICYMI

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

Flashback Friday: The Market Movers

Flashback Friday: The Market Movers

OPEC Deal Doesn't Boost Production Enough to Drive Down Crude, Gasoline Prices

OPEC Deal Doesn't Boost Production Enough to Drive Down Crude, Gasoline Prices