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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
24 Oct 14 14:47:22
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Matt finston
24 Oct 14 14:18:57
Great couple of weeks for $kerx. Did you read my article?
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Homegameralert
24 Oct 14 12:41:12
looking at potential small bios for take out picks, looking at $KERX, $ISR, $ANIP, $BONE, $NVDA, $ALXA, %KITE, $ACHN, pipeline & earnings to
DailyStockPicks
24 Oct 14 10:55:31
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stockblaster14
24 Oct 14 09:43:11
Keryx Biopharmaceuticals (KERX) 16.77 $KERX Shares of KERX Up 10.7% Since Uptrend Call on Shares Comtex SmarTr http://t.co/BY2y0JzYK5
Homegameralert
24 Oct 14 08:36:14
$ISR moving higher today, look at that going into new conference for data on drug, also look at small cap bio's. $KERX, $ATRS, $ANIP, $BONE
Smarter Analyst
24 Oct 14 08:18:45
$KERX Maxim Maintains Buy On Keryx As Nephrology Conference Papers Show Cost Savings And LT Benefits Of Ferric Citrat http://t.co/RrqcNrotAu
MAISA
23 Oct 14 23:10:48
$KERX_$16.56_two Ferric Citrate-related abstracts have been accepted for presentation at the upcoming ASN Kidney Week 2014 annual meeting
DailyStockPicks
23 Oct 14 22:03:21
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Jack Trader
23 Oct 14 13:01:25
$KERX Keryx Biopharmaceuticals Announces Ferric Citrate Presentations at the ... http://t.co/L3WJHmIvnW
Jeffrey Blake
23 Oct 14 13:01:24
$KERX Why Did Baupost Double Its Stake In Keryx Biopharmaceuticals? http://t.co/Fw9w2r5eyn
Billy Ray Valentine
23 Oct 14 12:48:49
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Alexander Morris
23 Oct 14 11:22:36
$KERX: Exc 1MoHIGH=16.80, hits:1, Rng:25%, ch:+5.0%, 18NewHi, 45:6Accel+, allTFs+, MedFlt[80.9M], HiPctSht[30%:12d], PrvClGap+[+1.2%]
US_proptrader
23 Oct 14 11:03:09
$ALJ $BBG $BCEI $BTU $CIE $CLR $CPE $CRK $KERX autocharts @ http://t.co/hj7PGeTQk3
gunguy
23 Oct 14 10:24:53
$KERX breaking out on the daily.
Homegameralert
23 Oct 14 09:54:00
@ScottWapnerCNBC what does your guest think of $KERX going into earnings
Homegameralert
23 Oct 14 08:48:45
@ivanhoff @howardlindzon jumping into bio tech today both large and small, $GILD, $ADXS, $ACHN, $ATRS, $BONE. $KERX, $KITE, $BIIB, take look
Stockaholics
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C Mosseri Marlio
23 Oct 14 08:08:14
$kerx abstract from ASN (FR-OR045) details reduced incidence of cardiac, GI, and infection SAEs. Surprised by strength of GI advantage.
Homegameralert
23 Oct 14 08:03:30
$KERX Announces Ferric Citrate Presentations at the Upcoming American Society of Nephrology Kidney Week 2014 Annual Meeting, NOV. 11-16
$Stocknewsalerts
23 Oct 14 07:55:18
$KERX Keryx Biopharmaceuticals Announces Ferric Citrate Presentations at the Upcoming American Society of Nep From our Stock News Alerts App
4-traders.com
23 Oct 14 07:55:05
Keryx Biopharmaceuticals : Announces Ferric Citrate Presentations at the Upcoming American Society of Nephr... http://t.co/WWDt7ThWOe $KERX
BV Healthcare
23 Oct 14 07:52:37
$KERX Keryx Biopharmaceuticals Announces Ferric Citrate Presentations at the Upcoming American Society.. http://t.co/oq7gaZN5N1
Bryon Franzen
23 Oct 14 07:13:28
$kerx is rolllin
Homegameralert
23 Oct 14 07:02:20
looking at $KERX into earnings and charts are showing holding all levels, so buying
stt2318
23 Oct 14 05:13:55
$KERX tightening pattern http://t.co/7YPyW1jTUK
Eli Pritsker
22 Oct 14 18:40:02
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Phil Martin
22 Oct 14 18:03:22
$KERX http://t.co/gATE5VwFG5
Stockaholics
22 Oct 14 14:39:02
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Stockaholics
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Homegameralert
22 Oct 14 11:38:31
look at buying quality stocks like $MSFT, $AAL, $DAL, $DOW, $MS, $CHK, $DO, $SONS, $MAS,$WY, $KERX, $MARVL,$AMAT,$BRCM, $KLAC, all good buys
Stockaholics
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Billy Ray Valentine
22 Oct 14 09:01:48
$FMS should buy $KERX
Homegameralert
22 Oct 14 06:45:53
jumping into bio tech today both large and small, $GILD, $ADXS, $ACHN, $ATRS, $BONE. $KERX, $KITE, $BIIB, take a look, growth and pipelines
C Mosseri Marlio
22 Oct 14 05:08:17
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Joe McCann
21 Oct 14 13:30:54
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US_proptrader
21 Oct 14 12:24:37
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Hooligan
21 Oct 14 11:52:24
$KERX to the fool suggesting this ends up like AMRN, remember, theyve already secured their patent. Good-2-Go
DailyStockPicks
21 Oct 14 11:40:41
Earnings out for Owens Corning tomorrow. Is it due for a collapse? http://t.co/Est9NjxYUb $RNO $RFMD $DUST $KERX $LIVE $PSID $PLUG $ZGNX
Tyler Bryant
21 Oct 14 11:07:11
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By  +Follow October 16, 2013 9:45AM
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