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.

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KERX Chart KERX data by YCharts

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Today's Perilous Reversal Stock: Keryx Biopharmaceuticals (KERX)