Keryx Biopharmaceuticals (NASDAQ:KERX), a biopharmaceutical company focused on bringing innovative medicines to people with renal disease, announced that Michael Heffernan and Jodie Morrison joined its board of directors, effective immediately. These new appointments bring the size of the company’s board to eight members and reflect achievement of Keryx’s commitment to add further complementary expertise to its Board.
“We are very pleased to further strengthen our board,” said Greg Madison, chief executive officer ofKeryx Biopharmaceuticals. “Michael and Jodie round out the expertise of our directors by bringing a broad range of operational and leadership experience in several therapeutic areas with companies at every stage of development. I believe we have an impressive and well represented board to guide Keryx through the many stages of Auryxia’s life cycle.”
Michael Heffernan is founder, president, and chief executive officer of Collegium Pharmaceutical, a publicly traded drug development company targeting chronic pain. Jodie Morrison is president and chief executive officer of Tokai Pharmaceuticals, a publicly traded biopharmaceutical company focused on developing and commercializing innovative medicines for hormonally driven diseases, with an investigational medicine for prostate cancer in Phase 3 development. Michael will serve on Keryx’s compensation committee and its nominating and governance committee. Jodie will serve on the company’s audit committee and research and development committee.
“Keryx has a unique opportunity ahead, as it continues to drive brand awareness and adoption of Auryxia® in dialysis while working simultaneously on potential label expansion for an additional indication,” said Mr. Heffernan. “I look forward to sharing my experiences and insight to help guide the company through this very important time.”
“Keryx is entering an important stage of the company’s growth,” said Ms. Morrison. “I am thrilled to join the board and serve alongside the other directors to help achieve Keryx’s operational and development goals and advance its vision of building a leading renal company.” (Original Source)
Shares of Keryx closed yesterday at $6.13, up $0.08 or 1.32%. KERX has a 1-year high of $10.51 and a 1-year low of $2.80. The stock’s 50-day moving average is $5.79 and its 200-day moving average is $4.74.
On the ratings front, Keryx has been the subject of a number of recent research reports. In a report issued on May 16, FBR analyst Christopher James reiterated a Buy rating on KERX, with a price target of $13, which implies an upside of 112.1% from current levels. Separately, on April 29, Cowen’s Boris Peaker reiterated a Hold rating on the stock.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Christopher James and Boris Peaker have a total average return of -18.2% and 9.6% respectively. James has a success rate of 21% and is ranked #3862 out of 3977 analysts, while Peaker has a success rate of 45% and is ranked #311.
Overall, 2 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $4.00 which is -34.7% under where the stock closed yesterday.
Keryx Biopharmaceuticals, Inc. engages in the development and commercialization of medicines for the treatment of renal disease. Its products include phosphate-binding medicines, intravenous iron, and other medications.