Keryx Biopharmaceuticals (KERX) Shares Up 7.2%

Keryx Biopharmaceuticals (NASDAQ:KERX) shares shot up 7.2% on Friday . The stock traded as high as $2.84 and last traded at $2.84. 2,018,807 shares changed hands during trading, an increase of 81% from the average session volume of 1,114,212 shares. The stock had previously closed at $2.65.

A number of research firms have commented on KERX. Zacks Investment Research cut shares of Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. BidaskClub cut shares of Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Keryx Biopharmaceuticals in a research report on Thursday, August 9th. Citigroup decreased their target price on shares of Keryx Biopharmaceuticals from $4.75 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, August 9th. Finally, Raymond James cut shares of Keryx Biopharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.25.

The stock has a market cap of $271.30 million, a P/E ratio of -3.23 and a beta of 2.46.

Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. The company had revenue of $28.04 million during the quarter, compared to analyst estimates of $29.56 million. On average, sell-side analysts forecast that Keryx Biopharmaceuticals will post -0.59 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Keryx Biopharmaceuticals by 2.4% during the third quarter. Vanguard Group Inc. now owns 8,240,391 shares of the biopharmaceutical company’s stock worth $28,017,000 after purchasing an additional 194,437 shares in the last quarter. Nexthera Capital LP acquired a new stake in shares of Keryx Biopharmaceuticals during the third quarter worth about $680,000. Rubric Capital Management LP acquired a new stake in shares of Keryx Biopharmaceuticals during the third quarter worth about $680,000. FMR LLC acquired a new stake in shares of Keryx Biopharmaceuticals during the third quarter worth about $1,954,000. Finally, BlackRock Inc. lifted its position in shares of Keryx Biopharmaceuticals by 8.9% during the third quarter. BlackRock Inc. now owns 7,199,683 shares of the biopharmaceutical company’s stock worth $24,479,000 after purchasing an additional 586,238 shares in the last quarter. 70.76% of the stock is currently owned by institutional investors and hedge funds.

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About Keryx Biopharmaceuticals (NASDAQ:KERX)

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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