Bank of New York Mellon Corp reduced its stake in shares of Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 945,132 shares of the biopharmaceutical company’s stock after selling 67,230 shares during the period. Bank of New York Mellon Corp owned approximately 0.89% of Keryx Biopharmaceuticals worth $6,257,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KERX. Metropolitan Life Insurance Co. NY raised its position in shares of Keryx Biopharmaceuticals by 1.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 75,108 shares of the biopharmaceutical company’s stock valued at $351,000 after buying an additional 874 shares during the period. Rice Hall James & Associates LLC raised its position in shares of Keryx Biopharmaceuticals by 1.3% in the second quarter. Rice Hall James & Associates LLC now owns 912,830 shares of the biopharmaceutical company’s stock valued at $6,043,000 after buying an additional 11,767 shares during the period. LMR Partners LLP acquired a new position in shares of Keryx Biopharmaceuticals during the second quarter valued at approximately $125,000. Geode Capital Management LLC raised its position in shares of Keryx Biopharmaceuticals by 5.4% in the first quarter. Geode Capital Management LLC now owns 699,895 shares of the biopharmaceutical company’s stock valued at $3,268,000 after buying an additional 36,038 shares during the period. Finally, Royce & Associates LP raised its position in shares of Keryx Biopharmaceuticals by 32.2% in the first quarter. Royce & Associates LP now owns 451,725 shares of the biopharmaceutical company’s stock valued at $2,110,000 after buying an additional 110,000 shares during the period. Hedge funds and other institutional investors own 61.13% of the company’s stock.

Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) traded up 4.67% during trading on Wednesday, hitting $4.93. 1,330,815 shares of the stock were exchanged. The stock’s market capitalization is $522.06 million. Keryx Biopharmaceuticals Inc. has a 52 week low of $2.80 and a 52 week high of $7.80. The firm has a 50-day moving average of $4.42 and a 200-day moving average of $5.40.

Keryx Biopharmaceuticals (NASDAQ:KERX) last issued its earnings results on Monday, August 1st. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.14. The firm had revenue of $9.30 million for the quarter, compared to analyst estimates of $8.60 million. Keryx Biopharmaceuticals had a negative return on equity of 172.04% and a negative net margin of 590.50%. Keryx Biopharmaceuticals’s quarterly revenue was up 272.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.26) earnings per share. Equities research analysts anticipate that Keryx Biopharmaceuticals Inc. will post ($1.24) earnings per share for the current fiscal year.

Several brokerages have recently commented on KERX. Cowen and Company restated a “neutral” rating on shares of Keryx Biopharmaceuticals in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. FBR & Co lowered shares of Keryx Biopharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $16.00 to $7.00 in a research note on Tuesday, August 2nd. Stifel Nicolaus lowered shares of Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Brean Capital lowered shares of Keryx Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Keryx Biopharmaceuticals currently has an average rating of “Hold” and a consensus target price of $7.75.

In related news, CFO Scott A. Holmes sold 4,935 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $7.36, for a total transaction of $36,321.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.08% of the company’s stock.

About Keryx Biopharmaceuticals

Keryx Biopharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. The Company’s product Auryxia (ferric citrate), also known as Riona in Japan and Fexeric in Europe, is an oral, absorbable iron-based compound, which is indicated for the control of serum phosphorus levels in patients with chronic kidney disease (CKD), on dialysis.

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