Keryx Biopharmaceuticals (KERX): Focusing On Auryxia Growth

Maxim analyst Jason McCarthy is out today with a new research note on shares of Keryx Biopharmaceuticals (NASDAQ:KERX), after the drug maker reported fourth quarter earnings results, with Auryxia revenue (U.S.) of $27.2 million, including $8.2 million (8.7K scripps) in the fourth-quarter. Keryx shares are currently trading at $4.88, down $0.15 or -2.98%.

McCarthy noted, “With the manufacturing issues now in the past, the focus for Keryx is on driving Auryxia growth, including “recapturing” patients back to drug that may have been lost during the manufacturing interruption.”

“Our fundamental thesis has not changed; Auryxia is a first-in-class phosphate binder that has the added benefit of sparing iron depletion associated with dialysis. The phosphate-binder market is mature and been difficult to penetrate, but we believe that over time, awareness and adoption will continue to build and drive growth, an expanded label will help too,” the analyst added.

McCarthy reiterates a Buy rating on shares of Keryx with a price target of $7.00, which represents a potential upside of 44% from where the stock is currently trading.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason McCarthy has a yearly average return of -11.5% and a 37% success rate. McCarthy is ranked #4394 out of 4503 analysts.

Out of the 3 analysts polled by TipRanks (in the past 3 months), one rates Keryx stock a Buy, while two rate the stock a Buy. With a return potential of 26%, the stock’s consensus target price stands at $6.17.


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