Oppenheimer Maintains an 'Outperform' on Keryx Biopharmaceuticals (KERX); Generic Renagel/Renvela Gains Clarity
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Price: $3.36 --0%
Rating Summary:
6 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer maintains an 'Outperform' on Keryx Biopharmaceuticals (NASDAQ: KERX) price target of $3.00.
Analyst, Boris Peaker, said, "Yesterday Impax Labs (Nasdaq: IPXL)(Not Rated) announced an agreement with Genzyme (NYSE: SNY) to settle its litigation regarding generic Renagel and Renvela. Under the terms of the settlement, Impax will begin selling a generic version of Renvela by March 2014 and Renagel by September 2014. Impax believes that it is the first to file an ANDA and therefore expects 180-day market exclusivity. We estimate Zerenex to be launched in early 2014 and anticipate a generic Renagel/Renvela competition early in its launch. However, it is possible for Impax to delay launch (although unlikely) in exchange for compensation. We maintain our Zerenex launch projections and Outperform rating on KERX shares."
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 $2.05 yesterday.
Analyst, Boris Peaker, said, "Yesterday Impax Labs (Nasdaq: IPXL)(Not Rated) announced an agreement with Genzyme (NYSE: SNY) to settle its litigation regarding generic Renagel and Renvela. Under the terms of the settlement, Impax will begin selling a generic version of Renvela by March 2014 and Renagel by September 2014. Impax believes that it is the first to file an ANDA and therefore expects 180-day market exclusivity. We estimate Zerenex to be launched in early 2014 and anticipate a generic Renagel/Renvela competition early in its launch. However, it is possible for Impax to delay launch (although unlikely) in exchange for compensation. We maintain our Zerenex launch projections and Outperform rating on KERX shares."
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 $2.05 yesterday.
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