Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 19,312,877 shares, a growth of 14.6% from the August 31st total of 16,850,092 shares. Approximately 18.8% of the shares of the stock are sold short. Based on an average trading volume of 1,795,368 shares, the days-to-cover ratio is presently 10.8 days.
A number of research analysts have recently commented on KERX shares. JMP Securities reissued an “outperform” rating on shares of Keryx Biopharmaceuticals in a report on Thursday, September 8th. FBR & Co reissued a “buy” rating and issued a $13.00 target price on shares of Keryx Biopharmaceuticals in a report on Monday, July 25th. Zacks Investment Research raised shares of Keryx Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Wednesday, July 13th. Maxim Group reissued a “buy” rating and issued a $9.00 target price (up previously from $7.00) on shares of Keryx Biopharmaceuticals in a report on Friday, July 8th. Finally, Raymond James Financial Inc. increased their target price on shares of Keryx Biopharmaceuticals from $7.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.75.
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) opened at 5.31 on Friday. The firm’s 50-day moving average is $4.63 and its 200-day moving average is $5.41. The firm’s market cap is $562.30 million. Keryx Biopharmaceuticals has a 52-week low of $2.80 and a 52-week high of $7.80.
Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its earnings results on Monday, August 1st. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.14. Keryx Biopharmaceuticals had a negative net margin of 590.50% and a negative return on equity of 172.04%. The firm earned $9.30 million during the quarter, compared to the consensus estimate of $8.60 million. During the same period in the prior year, the company posted ($0.26) EPS. The firm’s revenue was up 272.0% compared to the same quarter last year. Analysts anticipate that Keryx Biopharmaceuticals will post ($1.24) earnings per share for the current year.
In other news, CFO Scott A. Holmes sold 4,935 shares of the 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.08% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alpine Partners VI LLC purchased a new position in Keryx Biopharmaceuticals during the second quarter worth $110,000. Trexquant Investment LP purchased a new position in Keryx Biopharmaceuticals during the second quarter worth $115,000. Cambridge Investment Research Advisors Inc. increased its position in 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 in the last quarter. LMR Partners LLP purchased a new position in Keryx Biopharmaceuticals during the second quarter worth $125,000. Finally, Stifel Financial Corp purchased a new position in Keryx Biopharmaceuticals during the second quarter worth $170,000. 61.13% of the stock is currently owned by institutional investors.
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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