UPDATE: Brean Murray Carret Reiterates Buy rating on Keryx Biopharmaceuticals
In a report published earlier today, Brean Murray Carret and Co. reiterates a Buy rating on Keryx Biopharmaceuticals (NASDAQ: KERX) and a price target of $5.
Brean Murray Carret and Co. comments, “At Keryx's analyst day presentation, it announced plans for two more Zerenex trials, and gave a company‐wide update. In a few weeks Keryx will initiate a 1 year extension trial, for Phase 3 patients wishing to continue on Zerenex, that is primarily for compassionate use and the company will continue to gather safety data from it. Additionally, Keryx will use this trial as an opportunity to introduce a 1.3g capsule that is about the same size as Renvela and would serve to reduce the pill burden down to 3‐4 pills/day. The company is also considering the introduction of a 1.5g capsule of Zerenex.”
Keryx closed at $1.82 on Thursday.
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