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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for KERX
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3 Sep 15 21:43:57
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Trade Followers
3 Sep 15 20:17:00
$KERX turning bearish on Twitter on a daily time frame. https://t.co/uMN26yhv3h
LeapFrog
3 Sep 15 19:48:10
Watchlist for Fri., Sep. 4 $mei $gef $cvgw $kbio $vnce $utiw $kerx $trvn $goog http://t.co/KX3L3VSPbo
WatchTheFunds
3 Sep 15 19:01:02
$KERX Institutional ownership up 1.37% Q/Q, with 991,248 net purchase http://t.co/YS7zmgzxlu http://t.co/bwspQfDt49
Nara
3 Sep 15 18:28:08
$GBSN $KERX $HTBX $TRVN Nice close today for GNSZ. Next week Conf.Find details here: https://t.co/gv9He7HRvh
Stock_Huntress
3 Sep 15 18:21:26
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TopFiveTraders
3 Sep 15 16:46:54
RT @DividendStoxApp: $KERX is one of biggest losers #stocks today. read more: http://t.co/uZFKOwiy9k
The Daily Dividend
3 Sep 15 16:30:12
$KERX is one of biggest losers #stocks today. read more: http://t.co/uZFKOwiy9k
Chris Lau
3 Sep 15 16:11:37
$IMOS outperforming #micron $MU by 500bp in bounce from lows. $KERX $KIN $CELG #biotech next at bat... http://t.co/myTwnSC5cF
Nara
3 Sep 15 16:00:12
$GBSN $KERX $HTBX $TRVN Nice close today for GNSZ. Next week conf.Find details here: https://t.co/gv9He7HRvh
Peter Bardens
3 Sep 15 15:17:09
$KERX Keryx Biopharmaceuticals Inc (KERX) Discloses Form 4 Insider Buying : Exec ... http://t.co/FTzgnbVSOY
dailystockplays.com
3 Sep 15 15:14:03
Parabolic SAR Sell http://t.co/pTjteEjdLO $EPV $OAK $DOG $VIVHY $DXD $SDOW $SDS $SH $ADMS $PZN $BPI $CDZI $PGNX $FSYS $UTIW $KERX $TSYS
skull322
3 Sep 15 15:04:21
RT @Street_Insider: Pre-Open Stock Movers 08/03: $PSEM $MM $GERN $LCI Higher; $FIVE $KERX $JOY Lower (more...) http://t.co/YbUVaLpqDg
FINTECHNA
3 Sep 15 15:02:10
RT Sentiquant: #sentishiftdown $KERX $RARE $NUGT $KBIO $SDRL #FinTech #finance http://t.co/RryvbfyVNs  20150903 18:00:06:068
Sentiquant
3 Sep 15 14:59:36
#sentishiftdown $KERX $RARE $NUGT $KBIO $SDRL #FinTech #finance http://t.co/yrhENaBkh8 20150903 18:00:06:068
AwesomeCalls
3 Sep 15 13:48:20
INSANE TRADE/CALL of the Day $KERX LIVE call POUNDED the desk this morning SCALE IN SHORT WITH SIZE & GUT this PIG! http://t.co/Hmwi2BiXWv
AwesomeCalls
3 Sep 15 13:46:31
Traders really banked this Thu on $KERX LIVE in #AwesomeCalls We focused from Pre-Market & advised ALL Members Scale SHORT $5.85 for +$.85pt
AwesomeCalls
3 Sep 15 13:45:51
You want to truly see what its like in #AwesomeCalls Take a look @ $KERX PreMarket Call 1hr before the market opened http://t.co/QuBnr8iBl7
InvestWithConf
3 Sep 15 13:36:02
$KERX is rated BUY, 146.5% upside by Wall Street analysts based on average ratings/targets http://t.co/8jN0CRix3C http://t.co/tIkbUqNJdF
Time=Best Stock
3 Sep 15 13:24:56
RT @ProfitTradeRoom: 20 Biggest Market Losers $WPCS $CVGW $KERX $OHGI $JOY $TRVN $AKBA $SCMP $AMBA $ACI $CTLT $PBMD $FIVE $SRPT $DGAZ http:…
Alejandro Aguirre
3 Sep 15 13:21:51
RT @ProfitTradeRoom: 20 Biggest Market Losers $WPCS $CVGW $KERX $OHGI $JOY $TRVN $AKBA $SCMP $AMBA $ACI $CTLT $PBMD $FIVE $SRPT $DGAZ http:…
Profit Trade Room
3 Sep 15 13:17:56
20 Biggest Market Losers $WPCS $CVGW $KERX $OHGI $JOY $TRVN $AKBA $SCMP $AMBA $ACI $CTLT $PBMD $FIVE $SRPT $DGAZ http://t.co/9bv787bjfq
FINTECHNA
3 Sep 15 13:02:06
RT Sentiquant: #sentishiftdown $KERX $RARE $NUGT $KBIO $UUP #FinTech #finance http://t.co/RryvbfyVNs  20150903 16:00:06:178
Sentiquant
3 Sep 15 12:59:36
#sentishiftdown $KERX $RARE $NUGT $KBIO $UUP #FinTech #finance http://t.co/yrhENaBkh8 20150903 16:00:06:178
FusionIQ
3 Sep 15 12:50:17
#FusionIQ Bottom Healthcare Stocks by Master Score Today $KPTI 11 $ARNA 14 $KERX 14 $UNIS 16 $TTOO 17 http://t.co/9ImlXz4YNa #MarketPulse
Adam
3 Sep 15 12:43:01
RT @theflynews: On The Fly: Top stock stories at midday $JOY $CAT $LB $LCI $BGS $GIS $FIVE $KERX: Full Story http://t.co/0DTGmuTU96
Alexander Morris
3 Sep 15 12:38:41
$KERX: ApproachingKeyLevel- (5.00), News, 6NewLo, FltBO-, 7:6Accel-, tf:0000001, ch:-16.3%, 1YrLo-, medFlt:83M, HiPctSht[41%:23d]
Thomas Collins
3 Sep 15 12:17:35
$KERX Keryx Biopharmaceuticals Inc (KERX) Discloses Form 4 Insider Buying : Exec ... http://t.co/kXHJIBamSs
Samuel Brown
3 Sep 15 12:17:25
$KERX Keryx Biopharmaceuticals Coverage Initiated at Citigroup Inc. (KERX) http://t.co/o44alpssiG
AwesomeCalls
3 Sep 15 12:11:02
Amazing Day in #AwesomeCalls Another 10 Trading Ideas Laid out ALL in Pre-Market Nail $UVXY $TVIX $TRVN $FOLD $FIVE $JOY $RARE $KERX $GERN
Sentiquant
3 Sep 15 11:59:36
#sentishiftdown $KERX $RARE $NUGT $KBIO $UUP #FinTech #finance http://t.co/yrhENaBkh8 20150903 15:00:05:986
BNK Invest
3 Sep 15 11:56:37
Video: Thursday's ETF Movers: $VLUE $XBI $ALV $KSS $KERX $RGLS #stocks http://t.co/kKISFs3aUi
BNK Invest
3 Sep 15 11:56:37
Video: Thursday Sector Laggards: Drugs, Biotechnology Stocks $TRVN $AKBA $KERX $TROV #stocks http://t.co/Xf2uRSfgLC
Quantcha
3 Sep 15 11:24:30
52-Week Low Alert: Trading today’s movement in KERYX BIOPHARMACEUTICALS $KERX http://t.co/LRH0fKQ8F6
Capital Market Labs
3 Sep 15 11:12:25
Technical Collapse -> http://t.co/AcHa0W84Lz $KERX Down -12.77% to New Low http://t.co/a1eLGLJFSF
Media Sentiment
3 Sep 15 11:07:56
$KERX received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 324
Consumer News
3 Sep 15 11:06:09
Keryx Biopharmaceuticals Cut to Sell at Zacks $KERX http://t.co/ZtIxSxD9MH #acn
US Consumer News
3 Sep 15 11:03:58
Keryx Biopharmaceuticals downgraded by Zacks to sell. http://t.co/NLf72dlTOt $KERX #KERX
MarketBeatCom
3 Sep 15 11:03:43
Keryx Biopharmaceuticals downgraded by Zacks to sell. http://t.co/X1HcW8LsgD $KERX #KERX
US Banking News
3 Sep 15 11:02:16
Zacks Lowers Keryx Biopharmaceuticals to Sell $KERX http://t.co/J3zRqRQraF
FINTECHNA
3 Sep 15 11:01:40
RT Sentiquant: #sentishiftdown $RARE $KERX $NUGT $KBIO $GOOGL #FinTech #finance http://t.co/RryvbfyVNs  20150903 14:00:06:034
Sentiquant
3 Sep 15 10:59:36
#sentishiftdown $RARE $KERX $NUGT $KBIO $GOOGL #FinTech #finance http://t.co/yrhENaBkh8 20150903 14:00:06:034
Ticker Report
3 Sep 15 10:57:24
Zacks Lowers Keryx Biopharmaceuticals to Sell $KERX http://t.co/oDoQWtpfF2
Dakota Financial
3 Sep 15 10:54:12
Zacks Lowers Keryx Biopharmaceuticals to Sell $KERX http://t.co/TRfHtbHPqX
David Blair
3 Sep 15 10:25:36
$KERX Gap fill below. http://t.co/5TH6hCQilc
Lecorb
3 Sep 15 09:52:50
Midday Gainers / Losers http://t.co/tIzKSNe0n6 $KBIO, $PSEM, $MM, $ALTV, $MEI, $NCS, $CRK, $ERB, $SQNS, $IDN, $HTBX, $JOY, $WPCS, $KERX,
Quartermaster
3 Sep 15 09:47:52
$kerx smacked today, seems overdone. The downgrade seems odd
Rachel Chitra
3 Sep 15 09:44:04
@JMac_SI on $KERX have a couple of questions. Can I DM you?
				
				
By  +Follow October 16, 2013 9:45AM
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