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Keryx Biopharmaceuticals (KERX) Spikes on Upgrade from Roth Capital

By  +Follow October 16, 2013 9:45AM
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Shares in Keryx Pharmaceuticals (KERX) joined the market rally on Wednesday with gusto, climbing nearly 20 percent on news that it was being upgraded by several analysts. Keryx has been experiencing a strong year since getting back solid data from a Phase III trial on its phosphate-binder Zerenex, which is intended for use by dialysis patients.

Upgrades from Roth Capital, Maxim Group

Keryx's Wednesday bounce can be attributed to a bullish recommendation from Dr. Joseph Pantginis at Roth Capital, who reiterated his buy rating while raising his price target from $16 to $24. In a September 24 interview with Seeking Alpha’s Ben Yoffe, Pantginis cited the 52 percent reduction in IV iron use by patients in the Phase III clinical study as being an important factor.

“We believe the ‘iron sparing’ component of Zerenex' profile will differentiate the drug upon anticipated approval,” he said. “We believe that not enough emphasis is currently being placed by the street on the iron sparing parameters seen to date, especially in the Phase III. The pharmacoeconomic benefit that can be seen using Zerenex can easily reach hundreds of millions of dollars with reduced iv iron and ESA use such as Epogen.”

Issuing a much more bearish, but nonetheless positive, outlook on August 1 were Maxim Group analysts, who upgraded the stock to a buy and raised the price target from $9 to $12.

Zerenex Approval by FDA Continues Strong Year

News of the positive Phase III study results initially caused Keryx’s stock to more than triple from January 18 to January 30 of this year. So far, the stock’s up nearly 300 percent on the year. The most recent increase also comes on the heels of news that the New Drug Application (NDA) for Zerenex had been approved by the FDA on Tuesday of last week.

"We are very pleased with the FDA's acceptance for filing of our NDA for Zerenex, as this represents an important achievement in the development of Zerenex,” said CEO Ron Bentsur at the time. “We believe that Zerenex has the potential to make a meaningful difference in the lives of patients with chronic kidney disease on dialysis, and we look forward to continuing to work with the FDA in its review process of the Zerenex NDA."

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for KERX
Stockaholics
1 Sep 14 15:55:49
$IWEB closed up 100% today, on more than 290 MILLION shares traded! Huge News: http://t.co/ucQcnpafDY $TSL $KERX $GGAL
Jeffrey Blake
1 Sep 14 10:01:16
$KERX Keryx Biopharmaceuticals Sees Unusually High Options Volume (KERX) http://t.co/igNxOCFcSs
Lucretia
1 Sep 14 10:01:15
$KERX Keryx Biopharmaceuticals (KERX) in Focus: Stock Adds 8.4% in Session http://t.co/fOnWtzZGr8
Rick  dan
1 Sep 14 09:45:33
Bio Tech stocks are pure Bubble will fall back 60% watch out $PBYI $ICPT $ALNY $MDVN $BCRX $PTCT $ACAD $BIIB $KERX $TKMR $ALXN $ACHN $REGN
Market News
1 Sep 14 06:29:20
$KERX: Seth Klarman's The Baupost Group Buys eBay, SunEdison Semiconductor ... http://t.co/SmQg0K8l7i http://t.co/AgkONOdO8f
Don Fishback
1 Sep 14 04:50:29
Academic Algorithms:(Term LT-ST Difference) $KERX, $BLOX, $CONN, $SFLY, $YHOO http://t.co/WnqNSrZdwk
OptionApps
1 Sep 14 04:50:29
Academic Algorithms:(Term LT-ST Difference) $KERX, $BLOX, $CONN, $SFLY, $YHOO http://t.co/PwMGnoPTOY
Don Fishback
1 Sep 14 04:50:28
Academic Algorithms:(Volatility HV-IV Difference) $KERX, $BLOX, $MEI, $BBRY, $YHOO http://t.co/WnqNSrZdwk
OptionApps
1 Sep 14 04:50:28
Academic Algorithms:(Volatility HV-IV Difference) $KERX, $BLOX, $MEI, $BBRY, $YHOO http://t.co/PwMGnoPTOY
Don Fishback
1 Sep 14 04:50:27
1 Month Increase in ATM IV (Point change) $KERX, $CODE, $YHOO, $BLOX, $CONN http://t.co/WnqNSrZdwk
OptionApps
1 Sep 14 04:50:27
1 Month Increase in ATM IV (Point change) $KERX, $CODE, $YHOO, $BLOX, $CONN http://t.co/PwMGnoPTOY
Don Fishback
1 Sep 14 04:50:26
1 Week Increase in ATM IV (Point change) $CODE, $ARWR, $KERX, $BBRY, $BBBY http://t.co/WnqNSrZdwk
OptionApps
1 Sep 14 04:50:26
1 Week Increase in ATM IV (Point change) $CODE, $ARWR, $KERX, $BBRY, $BBBY http://t.co/PwMGnoPTOY
Austin Jamison Kurtz
1 Sep 14 01:48:37
#etrade @etrade Sept '13 acc.up 30% year to date..Mrkts been strong, follow me 4 picks $KERX FDA approval 9/7 #Winning $18-$24 look at $NOK
HedgeBound
31 Aug 14 19:47:02
RT @Skipjackrick $KERX high open interest range is 14.00 to 16.00 for option expiration 09/20/2014. http://t.co/ctR9WoRmjx
Financial Headlines
31 Aug 14 18:29:26
$KERX: The Baupost Group buys a new position in Keryx Biopharmaceuticals http://t.co/YM1e9XQ2D2 http://t.co/PJWr1pPczw
Dan
31 Aug 14 16:02:11
$KERX Max Pain = 15.00. Maturity = 09/20/2014. Previous close = 18.19. http://t.co/0c4pyhpZta
Dan
31 Aug 14 15:45:49
$KERX high open interest range is 14.00 to 16.00 for option expiration 09/20/2014. http://t.co/UT5IAGzvKb
J_D_Rico
31 Aug 14 09:01:08
$BDSI and $KERX holding new high territory after breakouts earlier last week
Gotham City Capital
29 Aug 14 21:19:30
RT @BioRunUp: Have a great long weekend all... get your rest. September is almost here! $HALO $KERX $OREX $NPSP $PGNX $PSDV $SNSS $HALO $N…
TV_Trading Ideas
29 Aug 14 21:19:17
KERX uptrend before PDUFA $KERX http://t.co/3x5ovP6N01
Market News Desk
29 Aug 14 20:29:33
$KERX: Barbarian At The Gate: Keryx Biopharmaceuticals (KERX) http://t.co/9VzVVHMJQV http://t.co/im6esJ17OC
Richard Underbrink
29 Aug 14 19:40:29
So busy lately but started scaling into $KERX PDUFA position. Wrote $20 calls at $1.05 (starter) will add. Cc @thuckabeedds @ChetStedman5
fezziwig2008
29 Aug 14 16:32:12
RT @BioRunUp: Have a great long weekend all... get your rest. September is almost here! $HALO $KERX $OREX $NPSP $PGNX $PSDV $SNSS $HALO $N…
BioRunUp
29 Aug 14 13:35:03
Have a great long weekend all... get your rest. September is almost here! $HALO $KERX $OREX $NPSP $PGNX $PSDV $SNSS $HALO $NKTR $XOMA
Stockaholics
29 Aug 14 12:30:09
RSII shot up over 100% today! Major Update: http://t.co/GMnQioznZp $YPF $KERX $ATSG
Stockaholics
29 Aug 14 12:12:38
RSII shot up over 100% today! Major Update: http://t.co/GMnQioznZp $TSL $KERX $GGAL
WallStreet
29 Aug 14 08:47:22
$KERX - Is It Time To Buy Keryx Biopharmaceuticals (NASDAQ:KERX)? - http://t.co/rT1I0UWZMP
Business Headlines
29 Aug 14 06:29:29
$KERX: Keryx Should Move Substantially In The Next 2 Months (KERX) http://t.co/Xx5MzyMrBh http://t.co/jghGSMhVwV
Stock Market Monitor
29 Aug 14 05:29:27
$KERX: Seth Klarman's The Baupost Group Buys eBay, SunEdison Semiconductor ... http://t.co/SLjYdfmpZJ http://t.co/1uR3MqMBNy
Damien
29 Aug 14 04:51:24
$KERX up almost 3% pm but on no shares so far
Don Fishback
29 Aug 14 04:50:06
Academic Algorithms:(Term LT-ST Difference) $KERX, $BLOX, $CONN, $CODE, $SFLY http://t.co/YrumYcK17U
OptionApps
29 Aug 14 04:50:05
Academic Algorithms:(Term LT-ST Difference) $KERX, $BLOX, $CONN, $CODE, $SFLY http://t.co/sISuJVlOpu
Don Fishback
29 Aug 14 04:50:05
Academic Algorithms:(Volatility HV-IV Difference) $BLOX, $KERX, $MEI, $ZOES, $BBRY http://t.co/YrumYcK17U
OptionApps
29 Aug 14 04:50:04
Academic Algorithms:(Volatility HV-IV Difference) $BLOX, $KERX, $MEI, $ZOES, $BBRY http://t.co/sISuJVlOpu
Don Fishback
29 Aug 14 04:50:03
1 Month Increase in ATM IV (Point change) $KERX, $BLOX, $TITN, $YHOO, $BIG http://t.co/YrumYcK17U
OptionApps
29 Aug 14 04:50:03
1 Month Increase in ATM IV (Point change) $KERX, $BLOX, $TITN, $YHOO, $BIG http://t.co/sISuJVlOpu
Don Fishback
29 Aug 14 04:50:02
1 Week Increase in ATM IV (Point change) $CODE, $KERX, $BBRY, $EZCH, $BBBY http://t.co/YrumYcK17U
OptionApps
29 Aug 14 04:50:02
1 Week Increase in ATM IV (Point change) $CODE, $KERX, $BBRY, $EZCH, $BBBY http://t.co/sISuJVlOpu
Business News Now
29 Aug 14 03:29:35
$KERX: Keryx drug improves phosphorus, iron in kidney patients -trial http://t.co/pXF8AGphis http://t.co/qRduFr3Co8
Randy
29 Aug 14 03:04:47
If had to leave $ for a year? Would choose $mack. Similar level as when $kerx was preNDA. Hated enough to squeeze shorts over and over.
Alpha Maven Alerts
28 Aug 14 21:17:43
$KERX, Active, Yesterday, SD +2.19, #NASDAQ #HealthCare
Eli Pritsker
28 Aug 14 17:59:54
RT @Ethane28: Finally all out $KERX at 18 from 14 entry. Added more $PGNX. Continue hold $CPRX from 2.3 entry last week. $ARWR is still la…
Ethan28
28 Aug 14 16:34:55
Finally all out $KERX at 18 from 14 entry. Added more $PGNX. Continue hold $CPRX from 2.3 entry last week. $ARWR is still largest position
Stockaholics
28 Aug 14 16:31:59
$VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/EdxLh9u5Nx $TSL $KERX $GGAL
Stock News Headlines
28 Aug 14 14:29:35
$KERX: Q2 2014 Keryx Biopharmaceuticals, Inc. Earnings Release - Before Market Open http://t.co/spBKwKyvhJ http://t.co/6Mb3zVtRXM
MAISA
28 Aug 14 13:32:15
@utopia_be $KERX pretty much baked in for the approval. watch out for any surprises like CMC issues CRL
Stockaholics
28 Aug 14 13:06:11
$VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/86hsEuqG18 $TSL $KERX $GGAL
Stockaholics
28 Aug 14 12:49:29
VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/86hsEuqG18 $TSL $KERX $GGAL
Clair Voight
28 Aug 14 12:00:32
$KERX Keryx Biopharmaceuticals (KERX) in Focus: Stock Adds 8.4% in Session http://t.co/bfcljc9kyC
				
				
By  +Follow October 16, 2013 9:45AM
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