BTIG Reiterates Neutral Rating On Keryx Biopharmaceuticals Following Q4 Earnings Release


BTIG’s healthcare analyst Hartaj Singh came out with a research note on Keryx Biopharmaceuticals (NASDAQ:KERX), after the company reported its fourth-quarter financial results and provided a corporate update. The analyst rates the stock a Neutral, without suggesting a price target.

Singh noted, “Keryx reported FY14 on Feb 27th, and while the update was in line with our expectations, we exited the call with greater trepidation. The company continues to provide excellent visibility on its operational strategy to get Auryxia reimbursed and prescribed. However, on each call, Keryx provides new information, adding layers of complexity to the launch and complicating its ability to meet high investor expectations.”

Furthermore, “In the short term, we are reducing our 2015-19E sales by 1/3, still above consensus downgrades of 15% in the last four weeks. However, investor expectations could still be too high.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Hartaj Singh has a total average return of 19.0% and a 83.3% success rate. Singh is ranked #1387 out of 3504 analysts.

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