Oppenheimer Defends Keryx Biopharmaceuticals (KERX), Says Sell-Off Overdone
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Price: $3.36 --0%
Rating Summary:
6 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 13
Rating Summary:
6 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 13
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After getting a boost in late trading Wednesday on some insider buying, beaten-up Keryx Biopharmaceuticals (NASDAQ: KERX) is getting another leg up this morning following some positive comments at Oppenheimer.
The firm said while the failure of perifosine was a disappointment, the sell-off is overdone.
They estimate that Keryx second asset, Zerenex, is worth approximate $3 per share - or nearly double the current price.
Oppenheimer also highlighted the CEO's purchaes of 71.4k shares in the open market at $1.38, noting this was the largest open market purchase by the CEO since mid-2009. "In our opinion this transaction further supports our thesis that Zerenex carries a low clinical risk and significant upside potential at current valuation."
The firm reiterated their Outperform rating and price target of $3.
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 $1.64 yesterday.
The firm said while the failure of perifosine was a disappointment, the sell-off is overdone.
They estimate that Keryx second asset, Zerenex, is worth approximate $3 per share - or nearly double the current price.
Oppenheimer also highlighted the CEO's purchaes of 71.4k shares in the open market at $1.38, noting this was the largest open market purchase by the CEO since mid-2009. "In our opinion this transaction further supports our thesis that Zerenex carries a low clinical risk and significant upside potential at current valuation."
The firm reiterated their Outperform rating and price target of $3.
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 $1.64 yesterday.
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