Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 19,312,877 shares, an increase of 14.6% from the August 31st total of 16,850,092 shares. Approximately 18.8% of the shares of the stock are short sold. Based on an average daily volume of 1,795,368 shares, the days-to-cover ratio is presently 10.8 days.
Keryx Biopharmaceuticals (NASDAQ:KERX) opened at 5.38 on Wednesday. The firm’s 50-day moving average is $4.69 and its 200-day moving average is $5.44. The firm’s market capitalization is $569.72 million. Keryx Biopharmaceuticals has a 52-week low of $2.80 and a 52-week high of $7.80.
Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its quarterly earnings results on Monday, August 1st. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.14. Keryx Biopharmaceuticals had a negative return on equity of 172.04% and a negative net margin of 590.50%. The company earned $9.30 million during the quarter, compared to the consensus estimate of $8.60 million. During the same quarter in the previous year, the business posted ($0.26) EPS. The firm’s revenue for the quarter was up 272.0% on a year-over-year basis. On average, equities analysts expect that Keryx Biopharmaceuticals will post ($1.24) earnings per share for the current year.
KERX has been the topic of several analyst reports. Brean Capital lowered shares of Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. FBR & Co reiterated a “buy” rating and set a $13.00 price target on shares of Keryx Biopharmaceuticals in a research report on Monday, July 25th. Cowen and Company reiterated a “neutral” rating on shares of Keryx Biopharmaceuticals in a research report on Wednesday, August 3rd. Finally, Maxim Group downgraded shares of Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $8.02.
In other news, CFO Scott A. Holmes sold 4,935 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $7.36, for a total value of $36,321.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.08% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Alpine Partners VI LLC bought a new position in shares of Keryx Biopharmaceuticals during the second quarter worth approximately $110,000. Trexquant Investment LP bought a new position in shares of Keryx Biopharmaceuticals during the second quarter worth approximately $115,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Keryx Biopharmaceuticals by 38.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,100 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 5,000 shares during the last quarter. LMR Partners LLP bought a new position in shares of Keryx Biopharmaceuticals during the second quarter worth approximately $125,000. Finally, Stifel Financial Corp bought a new position in shares of Keryx Biopharmaceuticals during the second quarter worth approximately $170,000. Institutional investors own 61.13% of the company’s stock.
Keryx Biopharmaceuticals Company Profile
Keryx Biopharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. The Company’s product Auryxia (ferric citrate), also known as Riona in Japan and Fexeric in Europe, is an oral, absorbable iron-based compound, which is indicated for the control of serum phosphorus levels in patients with chronic kidney disease (CKD), on dialysis.
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