Rodman & Renshaw Outperform On Keryx Biopharmaceuticals
Rodman & Renshaw is out with a research report on Keryx Biopharmaceuticals (NASDAQ: KERX) and it has an Outperform rating and a $8 price target on shares.
In a note to clients, Rodman & Renshaw writes, "We are reiterating our Market Outperform / Speculative Risk rating and our target price of $8 based on a discounted 2015 revenues and earnings multiples analysis. The completion of the review by the DSMB highlights the safety of perifosine in combination with capecitabine. The perifosine Phase 2 colorectal cancer data provide a strong rationale for a positive outcome of the Phase 3 trial. Perifosine is also in a Phase 3 trial for the treatment of relapsed/refractory multiple myeloma. Finally, Keryx is conducting a Phase 3 trial to evaluate the potential for the phosphate binder Zerenex to lower phosphate in ESRD patients on dialysis. In our opinion, Keryx represents an undervalued opportunity for investors seeking a triple “Phase 3 pure-play” in myeloma, colorectal cancer and hyperphosphatemia combined with peak total revenues of approximately $500 MM, and with multiple partnering opportunities."
At last check, shares of KERX were up 2 cents to $4.90.
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