State Board of Administration of Florida Retirement System held its stake in Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) during the second quarter, Holdings Channel reports. The institutional investor owned 64,782 shares of the biopharmaceutical company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.06% of Keryx Biopharmaceuticals worth $429,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Rice Hall James & Associates LLC raised its position in shares of Keryx Biopharmaceuticals by 1.3% in the second quarter. Rice Hall James & Associates LLC now owns 912,830 shares of the biopharmaceutical company’s stock valued at $6,043,000 after buying an additional 11,767 shares during the last quarter. Royce & Associates LP raised its position in shares of Keryx Biopharmaceuticals by 32.2% in the first quarter. Royce & Associates LP now owns 451,725 shares of the biopharmaceutical company’s stock valued at $2,110,000 after buying an additional 110,000 shares during the last quarter. Norges Bank purchased a new position in shares of Keryx Biopharmaceuticals during the fourth quarter valued at about $9,150,000. Cambridge Investment Research Advisors Inc. raised 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 valued at $120,000 after buying an additional 5,000 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in shares of Keryx Biopharmaceuticals during the second quarter valued at about $125,000. Institutional investors own 61.13% of the company’s stock.
Shares of Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) traded down 1.09% during midday trading on Friday, reaching $5.42. The company’s stock had a trading volume of 1,107,721 shares. Keryx Biopharmaceuticals Inc. has a 1-year low of $2.80 and a 1-year high of $7.80. The company’s market capitalization is $573.95 million. The stock has a 50 day moving average of $4.77 and a 200-day moving average of $5.45.
Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its quarterly earnings data on Monday, August 1st. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates 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 firm earned $9.30 million during the quarter, compared to analyst estimates of $8.60 million. During the same quarter in the prior year, the firm earned ($0.26) EPS. The business’s quarterly revenue was up 272.0% compared to the same quarter last year. On average, equities research analysts anticipate that Keryx Biopharmaceuticals Inc. will post ($1.24) earnings per share for the current year.
Several equities analysts have issued reports on KERX shares. JMP Securities reaffirmed an “outperform” rating on shares of Keryx Biopharmaceuticals in a report on Thursday, September 8th. Zacks Investment Research raised Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. Vetr lowered Keryx Biopharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $5.93 price objective on the stock. in a report on Monday, October 3rd. FBR & Co reaffirmed a “buy” rating and set a $13.00 price objective on shares of Keryx Biopharmaceuticals in a report on Monday, July 25th. Finally, Maxim Group reaffirmed a “buy” rating and set a $9.00 price objective (up previously from $7.00) on shares of Keryx Biopharmaceuticals in a report on Friday, July 8th. One 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’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.44.
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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.08% of the stock is currently owned by insiders.
About Keryx Biopharmaceuticals
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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