Roth Capital Maintains Bullish Stance On Keryx Following Phase 3 Initiation in CKD


In a research note published today, Roth Capital analyst Joseph Pantginis maintained a Buy rating on Keryx Biopharmaceuticals (NASDAQ:KERX) with a $32 price target, in light of the initiation of the company’s Phase III study of Ferric Citrate in non-dialysis dependent chronic kidney disease patients.

Pantginis observed, “We believe this study in this CKD population has been de-risked based on the positive Phase II study and the recent FDA approval in CKD patients on dialysis. We believe that this study, if successful, would lead to significant broadening of the target populations for Ferric Citrate. Additionally, since this patient population is not dialysis dependent, we believe they could demonstrate a more pronounced beneficial effect from the iron-sparing characteristics of Ferric Citrate. There is currently a need for an improved oral iron treatment as other available options suffer from absorption and tolerability issues and we believe Ferric Citrate has the potential to fill this need.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -8.7% and a 31.9% success rate. Pantginis has a -15.9% average return when recommending KERX, and is ranked #3295 out of 3309 analysts.

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