Rhenman Partners Asset Management Ab Lowers stake in Keryx Biopharmaceuticals (KERX)

Keryx Biopharmaceuticals (KERX) : Rhenman Partners Asset Management Ab reduced its stake in Keryx Biopharmaceuticals by 52.62% during the most recent quarter end. The investment management company now holds a total of 450,111 shares of Keryx Biopharmaceuticals which is valued at $1,930,976 after selling 499,889 shares in Keryx Biopharmaceuticals , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Keryx Biopharmaceuticals makes up approximately 0.31% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors boosted its stake in KERX in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 2,500 shares of Keryx Biopharmaceuticals which is valued at $18,225.

Keryx Biopharmaceuticals closed down -0.08 points or -1.86% at $4.21 with 18,14,252 shares getting traded on Thursday. Post opening the session at $4.29, the shares hit an intraday low of $4.14 and an intraday high of $4.33 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Keryx Biopharmaceuticals reported $-0.42 EPS for the quarter, missing the analyst consensus estimate by $ -0.16 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $-0.26. The company had revenue of $9.30 million for the quarter, compared to analysts expectations of $8.48 million. The company’s revenue was up 272.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.26 EPS.

Many Wall Street Analysts have commented on Keryx Biopharmaceuticals. Shares were Downgraded by FBR Capital on Aug 2, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 7 from a previous price target of $16 .Keryx Biopharmaceuticals was Downgraded by Brean Capital to ” Hold” on Aug 2, 2016. Keryx Biopharmaceuticals was Downgraded by Stifel to ” Hold” on Aug 2, 2016.

Keryx Biopharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. Its lead product Auryxia (ferric citrate) an oral absorbable iron-based compound received marketing approval from the United States Food and Drug Administration (FDA) for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis. The approval of Auryxia was based on data from its Phase III registration program in which Auryxia effectively reduced serum phosphorus levels to well within the National Kidney Foundation Kidney Disease Outcomes Quality Initiative (KDOQI) guidelines range of 3.5 to 5.5 mg/dL. In addition to the effects on serum phosphorus levels Auryxia’s pharmacodynamic properties resulted in increased ferritin iron and transferrin saturation (TSAT).

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