Oppenheimer Maintains an 'Outperform' on Keryx Biopharmaceuticals (KERX); Opportunities for Zerenex

June 22, 2012 10:46 AM EDT
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Price: $6.03 +0.17%

Rating Summary:
    8 Buy, 8 Hold, 1 Sell

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    Up: 5 | Down: 5 | New: 0
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Oppenheimer maintains an 'Outperform' on Keryx Biopharmaceuticals (NASDAQ: KERX) price target of $3.00.

Analyst, Boris Peaker, said, "We attended the Keryx analyst day yesterday and came away feeling that the company is well positioned to execute on its clinical and strategic plans. Moreover we continue to view the market potential for Zerenex as underappreciated and the shares of KERX having a favorable risk/reward ratio over the next 12-18 months. Three takeaways from the analyst day we highlight are: (1) there is significant patient dissatisfaction with available phosphate binders and cycling through available drugs; (2) there is potential for Zerenex to be used treating pre-dialysis patients; and (3) a new study to potentially extend the pill burden advantage with Zerenex will start soon."

Peaker lowers Q4 EPS estimate from $0.07 to (0.06) and FY12 from (0.20) to (0.34)

For an analyst ratings summary and ratings history on Keryx Biopharmaceuticals click here. For more ratings news on Keryx Biopharmaceuticals click here.

Shares of Keryx Biopharmaceuticals closed at $1.82 yesterday.

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