H.C. Wainwright Reiterates Buy On Keryx Biopharmaceuticals As Several KOLs Chime In

In a research report sent to investors today, H.C. Wainwright analyst Reni Benjamin reiterated a Buy rating on Keryx Biopharmaceuticals (NASDAQ:KERX) with a $19 price target, as the company hosted a KOL forum in which several prominent nephrologists discussed factors that differentiate Auryxia from other phosphate binders.

Benjamin noted, “The panel articulated long-term health and pharmacoeconomic benefits associated with the targeted reduction of serum phosphate as well as other factors that appear to be a differentiating compared to the standard of care. Based on the feedback from yesterday’s meeting, we believe the company is on track for a successful US launch, with sales revenues expected to begin early 2015.”

The analyst added, “With $118.4 MM in cash and cash equivalents, a 60-person sales force to market Auryxia in place, and royalties from Japanese partner JT Torii, we believe shares of Keryx remain undervalued.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Reni Benjamin has a total average return of -4.7% and a 36.6% success rate. Benjamin has a 3.3% average return when recommending KERX, and is ranked #3180 out of 3377 analysts.

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