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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
Stock Rocket
27 Jan 15 22:51:28
Our Penny Stock Alert On $QLTS Has Gained 34.62% In The Past 2 Days! Special Update: http://t.co/SK1yaqFkM1 $YPF $KERX $ATSG
Daniel Ward
27 Jan 15 20:43:49
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27 Jan 15 18:32:55
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27 Jan 15 17:50:15
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Alpha Maven Alerts
27 Jan 15 14:01:29
$KERX, Negative sentiment, 0.14, 1H, 5:00 PM EST, 27 Jan, #NASDAQ
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27 Jan 15 13:59:59
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27 Jan 15 13:56:32
$KERX raises $110M by selling new shares to JPMorgan, Cowen, Oppenheimer, JMP, Stifel, Mizuho, Roth Capital, Brean... http://t.co/pyaFR3cVpE
$Stocknewsalerts
27 Jan 15 13:43:36
$KERX ALERT: New Keryx Biopharmaceuticals, Inc. SEC Filing From our Stock News Alerts App
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27 Jan 15 13:40:49
$KERX - Current Report Filing (8-k) http://t.co/wSQbzABA6T
NASDAQ
27 Jan 15 13:40:33
$KERX - Current Report Filing (8-k) http://t.co/hZYDIptlwh
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27 Jan 15 13:40:21
$KERX - Current Report Filing (8-k) http://t.co/nHiJQSZ41T
BV Healthcare
27 Jan 15 13:38:18
$KERX Keryx Biopharmaceuticals Inc files Form 8-K (Events or Changes Between Quarterly Reports) SEC Fi.. http://t.co/sxFWU7oupo
Breaking News Now
27 Jan 15 13:36:07
$KERX: New SEC Filing for KERX: Form 8-K, No. 0001193125-15-021864 http://t.co/1y7Cggflz9 http://t.co/N8zfElrTqL
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27 Jan 15 09:33:27
$KERX 4 Reasons Why Wall Street Hates Keryx Biopharmaceuticals Inc. http://t.co/2k5z7R9eDV
Irma Doucet
27 Jan 15 09:33:23
$KERX Keryx Biopharmaceuticals (KERX) in Focus: Stock Falls by 6.8% http://t.co/fXwi84AYKy
InterCooler
27 Jan 15 08:34:53
Keryx Biopharmaceuticals PT Set at $26.00 by Brean Capital $KERX http://t.co/2lXNVXdwUu
Marie Powers
27 Jan 15 08:31:33
RT @BioWorld: Auryxia asphyxia? $KERX + Street confusion blamed for $RMTI share choke after FDA approval of iron-replacer Triferic http://t…
BioWorld Today
27 Jan 15 08:26:57
Auryxia asphyxia? $KERX + Street confusion blamed for $RMTI share choke after FDA approval of iron-replacer Triferic http://t.co/gS1tzF3RrS
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27 Jan 15 06:31:59
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Federico
27 Jan 15 06:18:41
Brean Capital Analysts Give Keryx Biopharmaceuticals a $26.00 Price Target $KERX http://t.co/j6OcdmXtIr via @RatingsNetwork
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27 Jan 15 05:55:19
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27 Jan 15 05:46:27
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27 Jan 15 05:43:01
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27 Jan 15 04:42:16
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27 Jan 15 04:05:07
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26 Jan 15 22:18:53
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26 Jan 15 21:35:04
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26 Jan 15 20:30:27
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A Raja
26 Jan 15 20:19:14
RT @ducttapesolder: @4seasons777 @hecht_dan funny how $KERX has $0 sales and 3x the market cap of $RMTI with $50M in sales. $RMTI break eve…
Brian Antonich
26 Jan 15 20:13:57
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US Banking News
26 Jan 15 16:42:46
Keryx Biopharmaceuticals PT Set at $26.00 by Brean Capital $KERX http://t.co/xdaTT7OLqy
Dr. Robert MacPhail
26 Jan 15 15:48:32
RT @MaisaCorp: $KERX also testing its drug, Auryxia, in a late-stage trial to treat iron deficiency in non-dialysis chronic kidney disease …
Dr. Robert MacPhail
26 Jan 15 15:48:01
RT @ProTradersNews: $KERX: Keryx Biopharmaceuticals Given a $26.00 Price Target by Brean ...: http://t.co/3OXV6e7Rvz
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26 Jan 15 15:14:02
$KERX: Keryx Biopharmaceuticals Given a $26.00 Price Target by Brean ...: http://t.co/3OXV6e7Rvz
Smarter Analyst
26 Jan 15 15:13:12
$KERX Keryx Biopharmaceuticals: Triferic Approval Not A Concern For Auryxia http://t.co/zRYmQibbQ0
Ticker Report
26 Jan 15 14:41:44
Brean Capital Analysts Give Keryx Biopharmaceuticals a $26.00 Price Target $KERX http://t.co/sZtH2OaHTB
MAISA
26 Jan 15 12:33:20
$KERX also testing its drug, Auryxia, in a late-stage trial to treat iron deficiency in non-dialysis chronic kidney disease patients $RMTI
Quantcha
26 Jan 15 11:34:58
Synthetic Long Discount Alert: KERYX BIOPHARMACEUTICALS $KERX trading at a 10.45% discount for the… http://t.co/TctL0zGwwo
ELPelonCap
26 Jan 15 10:21:28
RT @dougheuringaria: JMP $KERX Auryxia Symphony, 46 vs. 15 the week prior, and IMS, 35 vs. 10. we look forward to presenting our launch pro…
Donny
26 Jan 15 09:47:03
@adamfeuerstein: $KERX or $RMTI?
Itai Cohen
26 Jan 15 09:11:09
$KERX Brean Capital Reiterates Buy On Keryx Biopharmaceuticals Following Recent Public Offering http://t.co/piwNb6Kigy
Cedric Invest
26 Jan 15 09:11:08
$KERX Brean Capital Reiterates Buy On Keryx Biopharmaceuticals Following Recent Public Offering http://t.co/shE1vUprG2
				
				
By  +Follow October 16, 2013 9:45AM
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