In a report published Friday, Oppenheimer analyst Boris Peaker reiterated an Outperform rating on Keryx Biopharmaceuticals (NASDAQ: KERX), and slightly raised the price target from $11.00 to $12.00.
In the report, Peaker noted, “We recently met with management and had an opportunity to probe further into the clinical and pre-commercial developments for Zerenex. The update confirms our bullish view on the drug and provides incremental data points that may be overlooked by some investors. We continue to believe that Zerenex is a commercially attractive phosphate binder that has multiple advantages compared to the competition, and we anticipate the drug will gain approval in 1H13. We revised our NPV model and are raising our price target on Keryx to $12/share from $11 while maintaining our Outperform rating.”
Keryx Biopharmaceuticals closed on Thursday at $8.00.
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Posted in: Analyst Color, Price Target, Analyst Ratings