Keryx Biopharmaceuticals (NASDAQ:KERX), a biopharmaceutical company focused on bringing innovative medicines to people with renal disease, today announced that Douglas Jermasek will join the company as vice president, marketing and strategy, effective July 1, 2016. In this role, he will be responsible for brand strategy, product positioning, marketing, market access, and patient services for the company’s lead medicine, Auryxia® (ferric citrate).
“Doug will be essential to defining and driving our marketing and branding initiatives for Auryxia,” said Greg Madison, chief executive officer of Keryx Biopharmaceuticals. “He is the right person to help us make Auryxia the phosphate binder brand of choice in dialysis. Additionally, Doug’s deep understanding of chronic kidney disease (CKD) will be important to develop the optimal brand strategy and positioning of Auryxia for potential expansion as a treatment for iron deficiency anemia in people with CKD not yet on dialysis.”
Mr. Jermasek and Keryx’s vice president of sales, Tony Chambers, who joined the company in August 2015, will report to Mr. Madison and will join the company’s senior management team. Mr. Jermasek and Mr. Chambers each bring extensive experience in the pharmaceutical industry, including expertise in building successful, results-oriented commercial organizations.
Mr. Madison continued, “Since joining Keryx, Tony efficiently and effectively executed our field force expansion and has implemented programs for our field-based teams that are driving adoption of Auryxia. He joined Keryx at a critical time in the launch of this medicine. His pragmatism, coupled with a sense of urgency and results-driven approach have contributed significantly to the turnaround of Auryxia. The complementary backgrounds and expertise of Doug and Tony are a great asset for Keryx.” (Original Source)
Shares of Keryx closed last Friday at $5.86, down $0.34 or -5.48%. 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 $5.87 and its 200-day moving average is $4.78.
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 121.8% 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 -19.1% and 8.2% respectively. James has a success rate of 22.1% and is ranked #3861 out of 3980 analysts, while Peaker has a success rate of 42.2% and is ranked #364.
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 -31.7% under where the stock closed last Friday.
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.