Maxim Reiterates Buy On Keryx Biopharmaceuticals Following Meeting With Management
In a research report released Monday, Maxim Group analyst Jason Kolbert reiterated a Buy rating on Keryx Biopharmaceuticals (NASDAQ:KERX) with a $32 price target, which represents a potential upside of 118% from where the stock is currently trading.
Kolbert noted, “We held a meeting with Keryx management to review the Auryxia launch dynamics and outlook for the coming year. Management reviewed the clinical data that distinguishes Auryxia from the other drugs in the class, the formulary/regulatory strategy, patient assistance program, intellectual property and manufacturing capabilities as well as the competitive position in the landscape.”
The analyst concluded, “We continue to believe that Auryxia is the best-in-class phosphate binder and will become the market leader, bringing in a new treatment paradigm.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 4.1% and a 41.2% success rate. Kolbert has a 1.0% average return when recommending KERX, and is ranked #860 out of 3423 analysts.