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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
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
Mark Osullivan
29 Aug 14 04:43:32
$KERX Keryx Biopharmaceut http://t.co/A9JIxBXeHp
Margart Vargas
29 Aug 14 04:27:47
$KERX Keryx Biopharmac http://t.co/ObPdZi2pyA
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
Dusti Burns
28 Aug 14 16:34:37
$KERX Keryx Biopharmace http://t.co/aeRzX4chge
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
stock-o-matic
28 Aug 14 10:22:49
We have a sell signal on $KERX if close < 18.14. It's up +13% since our buy signal Aug 22. http://t.co/jVd7jxqzuF
Randy
28 Aug 14 09:33:37
Smelling a good ole fashion bear raid on $kerx next week
Financial News
28 Aug 14 08:29:35
$KERX: Keryx Biopharmaceuticals Sees Unusually High Options Volume (KERX) http://t.co/4wzWc2NirC http://t.co/Sm9ZGX5qJX
Neva Winter
28 Aug 14 07:46:20
$KERX Your September Bi http://t.co/PJo2xixMNF
Thinking Alpha
28 Aug 14 07:45:17
Check out these weekly charts on stocks on my #Tradar, come tell me ur thoughts! http://t.co/OpfXXnNf0b $KERX http://t.co/jdUcCaac2U
Randy
28 Aug 14 07:03:31
Small short $kerx 18.40...will hold thru pdufa
Damien
28 Aug 14 06:55:38
$KERX above 18.50 will run…testing now
Mike Convente
28 Aug 14 06:44:48
RT @BioRunUp: $KERX more 52 week highs $18.24
BioRunUp
28 Aug 14 06:44:06
$KERX more 52 week highs $18.24
K. Trox
28 Aug 14 06:02:17
Did a lot of reading on these drugs in development now. More familiar with everything going on now $OREX $DSCO $ALIM $PSDV $KERX $DVAX $OPXA
Stock Updates
28 Aug 14 05:29:27
$KERX: Keryx Biopharmaceuticals (KERX) in Focus: Stock Adds 8.4% in Session http://t.co/vfDCzLvAzL http://t.co/QLtF5nwVlm
Mexican Trades
28 Aug 14 04:52:50
A lot of plays on the table! $UVXY $ISNS $CSIQ $GALT $P $KERX $KNDI $FEYE $TKMR $TUBE https://t.co/ZzYRYVTGZu
Don Fishback
28 Aug 14 04:49:57
Academic Algorithms:(Term LT-ST Difference) $KERX, $BLOX, $EXAS, $SFLY, $YHOO http://t.co/7ONd2Az1py
OptionApps
28 Aug 14 04:49:56
Academic Algorithms:(Term LT-ST Difference) $KERX, $BLOX, $EXAS, $SFLY, $YHOO http://t.co/7TbsKU0I07
Don Fishback
28 Aug 14 04:49:56
Academic Algorithms:(Volatility HV-IV Difference) $KERX, $BLOX, $EXAS, $MEI, $BBRY http://t.co/7ONd2Az1py
OptionApps
28 Aug 14 04:49:56
Academic Algorithms:(Volatility HV-IV Difference) $KERX, $BLOX, $EXAS, $MEI, $BBRY http://t.co/7TbsKU0I07
				
				
By  +Follow October 16, 2013 9:45AM
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