Cowen analyst Boris Peaker weighed in today with his thoughts on Keryx Biopharmaceuticals (NASDAQ:KERX), following the news that the FDA approved Rockwell Medical’s (NASDAQ:RMTI) Triferic for treating iron loss in chronic kidney disease patients on dialysis, which may compete with KERX’s Auryxia. The analyst rates KERX a Buy with a $25 price target.
Peaker wrote, “We believe that Triferic does not have an attractive product profile. We do not anticipate Triferic to pressure Auryxia commercial uptake and we reiterate our Outperform rating on KERX.”
The analyst continued, “The vision for Auryxia is to capture the CKD patient before they get on dialysis. While many CKD patients do suffer from iron deficiency anemia, Triferic will be unable to capture this patient until they step into a dialysis clinic. Once Auryxia is approved in this indication, they will have a natural advantage over all anemia and phosphate control therapies in ESRD since physicians are unlikely to alter treatments for a patient that is stable and responsive to their existing regimen.”
Keryx Biopharmaceuticals, Inc., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of pharmaceutical products for the treatment of renal disease in the United States.