JP Morgan Healthcare Conference Roundup: Gilead Sciences, Inc. (GILD), Keryx Biopharmaceutical (KERX)

The 34th Annual JP Morgan Healthcare Conference kicked off today with several life science tools and diagnostic firms making presentations to investors and other attendees. Among the equities in focus are pharmaceutical giant Gilead Sciences, Inc. (NASDAQ:GILD) and Boston drug company Keryx Biopharmaceuticals (NASDAQ:KERX). Let’s take a look and see what JP Morgan analysts have to say about GILD and KERX.

Gilead Sciences, Inc.

J.P. Morgan analyst Cory Kasimov reiterated an Overweight rating on shares of Gilead Sciences, with a price target of $133, which represents a potential upside of 38% from where the stock is currently trading.

Kasimov noted, “Not much meaningfully new came out of GILD’s presentation (and no 2016 guidance provided, as usual). President and COO John Milligan started off by reviewing recent progress and pipelines in HIV, autoimmune/inflam, oncology, HCV, other liver disease, and NASH/PSC (in that order). Mgmt noted that in 2016 they will continue to try to bring in programs to accelerate the pipeline, and will be opportunistic/ready to move when the time is right. Additional takeaways are below.”

“Drug pricing will remain a topic given it is an election year, but think it’s more of a campaign issue (probability of action is low). GILD continues to talk with stakeholders and generally it is acknowledged that Sovaldi/Harvoni provide great value at their current prices… though the conversation is very one sided in the press,” the analyst added

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Cory Kasimov has a yearly average return of -9.7% and a 29% success rate. Kasimov has a -3.3% average return when recommending GILD, and is ranked #3539 out of 3610 analysts.

Keryx Biopharmaceuticals

J.P. Morgan analyst Whitney Ijem reiterated an Overweight rating on shares of Keryx Biopharma, with a price target of $11, which implies an upside of 213% from current levels.

Ijem said, “No meaningful updates came out of CEO Greg Madison’s presentation. The co did present some market research on the nondialysis indication (Phase 3 data anticipated in 2Q16) and noted the scale up of the salesforce (from 60 to 95 reps) is complete. KERX reiterated its guidance for 2016 OpEx of $87-92M and indicated they will provide Auryxia guidance around the 4Q call.”

“Auryxia Rx data/quarterly updates will continue to be a focus. Data from the Phase 3 CKD trial is expected in early 2Q16 with an sNDA expected later in the year. In the EU, KERX received EU approval in Sept. and is currently in discussions with several potential partners,” the analyst continued.

According to, analyst Whitney Ijem has a yearly average return of -17.7% and a 25% success rate. Ijem has a 2.2% average return when recommending KERX, and is ranked #2965 out of 3610 analysts.

Out of the 11 analysts polled by TipRanks, 5 rate Keryx Biopharmaceuticals stock a Buy, 4 rate the stock a Hold and 2 recommend a Sell. With a return potential of 213%, the stock’s consensus target price stands at $11.



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