Short Interest in Keryx Biopharmaceuticals, Inc. (KERX) Drops By 6.0%
Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) saw a large decline in short interest during the month of April. As of April 13th, there was short interest totalling 20,267,195 shares, a decline of 6.0% from the March 30th total of 21,560,766 shares. Based on an average daily volume of 1,180,900 shares, the days-to-cover ratio is presently 17.2 days. Currently, 17.2% of the company’s stock are sold short.
In other Keryx Biopharmaceuticals news, CFO Scott A. Holmes sold 5,651 shares of Keryx Biopharmaceuticals stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $4.81, for a total transaction of $27,181.31. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Greg Madison sold 15,318 shares of Keryx Biopharmaceuticals stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $4.81, for a total value of $73,679.58. The disclosure for this sale can be found here. Insiders have sold a total of 34,129 shares of company stock worth $163,957 over the last 90 days. 2.58% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in shares of Keryx Biopharmaceuticals in the 4th quarter worth approximately $142,000. Harvey Capital Management Inc. acquired a new position in shares of Keryx Biopharmaceuticals in the 4th quarter worth approximately $163,000. MetLife Investment Advisors LLC acquired a new position in shares of Keryx Biopharmaceuticals in the 4th quarter worth approximately $187,000. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Keryx Biopharmaceuticals in the 4th quarter worth approximately $192,000. Finally, Alliancebernstein L.P. grew its position in shares of Keryx Biopharmaceuticals by 120.5% in the 4th quarter. Alliancebernstein L.P. now owns 138,150 shares of the biopharmaceutical company’s stock worth $642,000 after acquiring an additional 75,510 shares in the last quarter. Institutional investors own 65.50% of the company’s stock.
Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its earnings results on Wednesday, February 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The firm had revenue of $18.70 million during the quarter, compared to analyst estimates of $17.53 million. Keryx Biopharmaceuticals had a negative return on equity of 10,954.62% and a negative net margin of 269.52%. Keryx Biopharmaceuticals’s revenue was up 96.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) EPS. equities analysts expect that Keryx Biopharmaceuticals will post -0.61 earnings per share for the current year.
Several research firms have issued reports on KERX. BidaskClub upgraded Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, April 20th. Morgan Stanley dropped their price objective on Keryx Biopharmaceuticals from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, February 8th. ValuEngine downgraded Keryx Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, February 22nd. Finally, Zacks Investment Research upgraded Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $7.19.
About Keryx Biopharmaceuticals
Keryx Biopharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on providing medicines for patients with kidney disease in the United States. It markets its lead product Auryxia (ferric citrate), an orally available, absorbable, iron-based medicine for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis, as well as for the treatment of iron deficiency anemia in adults with CKD not on dialysis.
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