Keryx Biopharmaceuticals (KERX) Stock Price Up 2.3% on Earnings Beat

Keryx Biopharmaceuticals (NASDAQ:KERX) shares rose 2.3% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $3.01 and last traded at $3.06. Approximately 21,273 shares changed hands during trading, a decline of 98% from the average daily volume of 856,235 shares. The stock had previously closed at $2.99.

The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. The business had revenue of $28.04 million for the quarter, compared to the consensus estimate of $29.56 million.

Several brokerages recently commented on KERX. Zacks Investment Research cut Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. BidaskClub cut Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Keryx Biopharmaceuticals in a report on Thursday, August 9th. Finally, Citigroup dropped their target price on Keryx Biopharmaceuticals from $4.75 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.25.

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in Keryx Biopharmaceuticals in the first quarter worth approximately $201,000. Shufro Rose & Co. LLC grew its position in Keryx Biopharmaceuticals by 26.1% in the second 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 last quarter. SG Americas Securities LLC acquired a new position in Keryx Biopharmaceuticals in the second quarter worth approximately $399,000. UBS Group AG grew its position in Keryx Biopharmaceuticals by 126.0% in the first 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 last quarter. Finally, Bank of America Corp DE grew its position in Keryx Biopharmaceuticals by 57.6% in the second 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 last quarter. 59.41% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market capitalization of $359.92 million, a PE ratio of -3.68 and a beta of 2.46.

ILLEGAL ACTIVITY WARNING: “Keryx Biopharmaceuticals (KERX) Stock Price Up 2.3% on Earnings Beat” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/11/10/keryx-biopharmaceuticals-kerx-stock-price-up-2-3-on-earnings-beat.html.

Keryx Biopharmaceuticals Company Profile (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.

Read More: Leveraged Buyout (LBO)

Receive News & Ratings for Keryx Biopharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Keryx Biopharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply