Keryx Biopharmaceuticals (KERX) a Buy Ahead of PDUFA Date, Maxim Group Said

Maxim Group analyst Jason Kolbert reiterated a Buy rating and $24 price target on Keryx Biopharmaceuticals (NASDAQ: KERX) saying they continue to expect FDA approval for Zerenex by the PDUFA date of September 7, 2014.

The firm is projecting a US launch around the end of 4Q-2014, 2015 US sales of $97 million, and total revenues of $108 million.

In addition, the firm sees several catalysts to drive the stock over the next year, these include: (1) data presentation at the American Society for Nephrology meeting in November, with additional data presentations and publications at other upcoming scientific meetings; these presentations should help drive market share and the message; (2) a Phase III trial for Zerenex in predialysis patients (P-CKD) is expected to begin in 4Q-14; (3) EMEA approval in Mid-2014; Keryx's filing for European approval in dialysis and predialysis patients was accepted in April 2014; and (5) an EU launch in individual European "Big Five" countries in 2H-2015.

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 $17.23 yesterday.

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