Keryx Biopharmaceuticals (KERX) Sets New 12-Month Low at $2.76

Keryx Biopharmaceuticals (NASDAQ:KERX)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $2.76 and last traded at $2.77, with a volume of 34775 shares changing hands. The stock had previously closed at $2.87.

KERX has been the topic of several research analyst reports. Zacks Investment Research raised Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. BidaskClub downgraded Keryx Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 13th. HC Wainwright set a $9.00 price objective on Keryx Biopharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 23rd. Finally, Citigroup cut their price objective on Keryx Biopharmaceuticals from $4.75 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.25.

The firm has a market capitalization of $362.58 million, a price-to-earnings ratio of -3.20 and a beta of 2.44.

Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.02). The business had revenue of $25.75 million during the quarter. As a group, analysts anticipate that Keryx Biopharmaceuticals will post -0.61 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new stake in shares of Keryx Biopharmaceuticals in the 1st quarter worth $201,000. Shufro Rose & Co. LLC lifted its holdings in shares of Keryx Biopharmaceuticals by 26.1% in the 2nd quarter. Shufro Rose & Co. LLC now owns 91,800 shares of the biopharmaceutical company’s stock worth $345,000 after buying an additional 19,000 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Keryx Biopharmaceuticals in the 2nd quarter worth $399,000. UBS Group AG lifted its holdings in shares of Keryx Biopharmaceuticals by 126.0% in the 1st quarter. UBS Group AG now owns 231,934 shares of the biopharmaceutical company’s stock worth $949,000 after buying an additional 129,296 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Keryx Biopharmaceuticals by 57.6% in the 2nd quarter. Bank of America Corp DE now owns 292,056 shares of the biopharmaceutical company’s stock worth $1,098,000 after buying an additional 106,737 shares during the period. Institutional investors and hedge funds own 59.52% of the company’s stock.

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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