J.P. Morgan Provides Insight On Keryx Biopharmaceuticals Following Publication Of Auryxia Data In Peer-Reviewed Jurnals


J.P. Morgan’s healthcare analyst Cory Kasimov weighed in today with a few insights on Keryx Biopharmaceuticals (NASDAQ:KERX), after the company announced the publication of Auryxia(TM) (ferric citrate) data and expert analyses in two peer-reviewed journals.

The analyst rates the stock an Outperform with a $24 price target, which implies an upside of 85% from current levels.

Kasimov noted, “While nothing meaningfully new came out of the publications, we think the visibility provided by JASN could be important as the company works to gain traction with the launch of Auryxia. Bottom line, we continue to believe that Auryxia’s unique clinical and pharmacoeconomic profile should ultimately drive use in the complicated and highly price sensitive dialysis market.”

“More interesting, in our view, is the accompanying editorial, which highlights the history/challenges in treating anemia over the years as well as the drawbacks associated with approved phosphate binders. The author is enthusiastic about the potential of FC to treat both hyperphosphatemia and anemia, though understandably notes that additional studies will be needed to fully assess the longer-term safety.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Cory Kasimov has a total average return of 14.6% and a 62.1% success rate. Kasimov has a 27.3% average return when recommending KERX, and is ranked #356 out of 3504 analysts.

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