Roth Maintains Keryx Biopharma (KERX) at Buy Following Initiation of Ferric Citrate Phase 2

Roth Capital reaffirms its Buy rating on $32 price target on Keryx Biopharmaceuticals (Nasdaq: KERX) following expected initiation of the Phase III study of Ferric Citrate in non-dialysis dependent chronic kidney disease patients.

Analyst Joseph Pantginis commented, We believe this study in this CKD population has been de-risked based on the positive Phase II study and the recent FDA approval in CKD patients on dialysis. We believe that this study, if successful, would lead to significant broadening of the target populations for Ferric Citrate. Additionally, since this patient population is not dialysis dependent, we believe they could demonstrate a more pronounced beneficial effect from the iron-sparing characteristics of Ferric Citrate. There is currently a need for an improved oral iron treatment as other available options suffer from absorption and tolerability issues and we believe Ferric Citrate has the potential to fill this need. Recall that KERX received FDA approval for Ferric Citrate for control of phosphorus levels in dialysis-dependent chronic kidney disease. We believe the drug's ironsparing component, which leads to important reductions in IV iron and ESA use provides significant differentiated properties. We anticipate a strong U.S. launch, which KERX anticipates within 12 weeks from approval. We continue to anticipate EU approval.

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

Keryx Biopharmaceuticals closed at $13.08 yesterday.

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