Short Interest in Keryx Biopharmaceuticals, Inc. (KERX) Drops By 8.1%
Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) saw a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 17,904,212 shares, a drop of 8.1% from the July 31st total of 19,485,853 shares. Approximately 15.2% of the shares of the company are short sold. Based on an average trading volume of 865,374 shares, the days-to-cover ratio is currently 20.7 days.
A number of institutional investors have recently added to or reduced their stakes in KERX. Venturi Wealth Management LLC acquired a new position in Keryx Biopharmaceuticals during the first quarter worth $232,000. Lincoln Capital Corp boosted its position in Keryx Biopharmaceuticals by 13.1% in the first quarter. Lincoln Capital Corp now owns 30,300 shares of the biopharmaceutical company’s stock worth $187,000 after buying an additional 3,500 shares during the last quarter. American International Group Inc. boosted its position in Keryx Biopharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 48,622 shares of the biopharmaceutical company’s stock worth $300,000 after buying an additional 3,220 shares during the last quarter. Stifel Financial Corp boosted its position in Keryx Biopharmaceuticals by 11.5% in the first quarter. Stifel Financial Corp now owns 33,736 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 3,478 shares during the last quarter. Finally, Shufro Rose & Co. LLC boosted its position in Keryx Biopharmaceuticals by 0.7% in the first quarter. Shufro Rose & Co. LLC now owns 73,200 shares of the biopharmaceutical company’s stock worth $451,000 after buying an additional 500 shares during the last quarter. 57.76% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on KERX shares. Zacks Investment Research lowered Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Maxim Group lifted their price objective on Keryx Biopharmaceuticals from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, May 15th. ValuEngine lowered Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $7.00 target price (up previously from $4.00) on shares of Keryx Biopharmaceuticals in a report on Tuesday, July 25th. Finally, Cowen and Company reaffirmed a “market perform” rating on shares of Keryx Biopharmaceuticals in a report on Tuesday, July 25th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $7.48.
Keryx Biopharmaceuticals (NASDAQ:KERX) opened at 6.97 on Friday. Keryx Biopharmaceuticals has a 12-month low of $4.03 and a 12-month high of $8.38. The stock’s market cap is $827.69 million. The firm’s 50-day moving average price is $7.12 and its 200-day moving average price is $6.28.
Keryx Biopharmaceuticals (NASDAQ:KERX) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.60. The business had revenue of $15.10 million during the quarter, compared to analyst estimates of $14.51 million. Keryx Biopharmaceuticals had a negative return on equity of 2,902.87% and a negative net margin of 431.89%. The business’s revenue for the quarter was up 62.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) EPS. On average, equities analysts predict that Keryx Biopharmaceuticals will post ($1.23) EPS for the current fiscal year.
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Keryx Biopharmaceuticals Company Profile
Keryx Biopharmaceuticals, Inc is a biopharmaceutical company focused on the development of medicines for people with renal disease. The Company is engaged in the manufacture, development and commercialization of products for use in treating human diseases. Its marketed product, Auryxia (ferric citrate), which is an orally available, absorbable, iron-based medicine is approved in the United States for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis.
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