Brean Capital Reiterates Buy on Keryx Biopharmaceuticals Following Key Opinion Leader Forum


In a research report published Tuesday, Brean Capital analyst Jonathan Aschoff reiterated a Buy rating on Keryx Biopharmaceuticals (NASDAQ:KERX) with a $26 price target, as the company held a Key Opinion Leader (KOL) forum yesterday afternoon where KOLS provided their perspectives on Auryxia (ferric citrate) in dialysis.

Aschoff noted, “We believe a drug such as Auryxia which could easily obviate maintenance IV iron dosing and reduce ESA doses would be favored by nephrologists. We also note clear pharmacoeconomic benefit with Auryxia. Assuming $11-14 savings per dialysis session, 156 sessions per patient per year, and 80 patients per center, a typical dialysis center could save $156,000 per year with Auryxia.

The analyst added, “Large dialysis centers such as DaVita could save as much as $125 million per year, a huge fraction of its current net income. We look forward to the launch of Auryxia and view it as the most differentiated phosphate binder, both clinically and economically.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jonathan Aschoff has a total average return of 12.6% and a 63.0% success rate. Aschoff has a 52.6% average return when recommending KERX, and is ranked #147 out of 3377 analysts.

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