Maxim Group analyst Jason Kolbert reiterated a Buy rating and $32 price target on Keryx Biopharmaceuticals (NASDAQ: KERX) after new publications on Auryxia supports its use and cost effectiveness.

Kolbert highlights:

• Two peer-reviewed journals have published articles on the efficacy, safety, and cost savings from Auryxia (ferric citrate). These publications are consistent with our expectations that Auryxia is a unique, differentiated product that could become the leader of the phosphate binder category.
• The Journal of the American Society of Nephrology (JASN) published an article (click to view) entitled, "Ferric Citrate Reduces Intravenous Iron and Erythropoiesis-Stimulating Agent Use in ESRD," from the phase III trial of Auryxia in dialysis-dependent chronic kidney disease patients. This article is a further analysis of preliminary data published in 2014. JASN also published an editorial (click to view-login required) entitled, "Is It Too Much of a Good Thing? A New Era in Phosphate Binder Therapy in ESRD." The editorial discussed the problems associated with ESA and intravenous iron, reviewed the history of ESA and iron use, and highlighted the benefits of Auryxia.
• Separately, an article entitled, "Phosphorus Binding with Ferric Citrate Is Associated with Fewer Hospitalizations and Reduced Hospitalization Costs," (click to view) was published online in Expert Review of Pharmacoeconomics & Outcomes Research. The authors estimated that, if the Auryxia treatment data from their sample were applied to the general ESRD population, it would result in a hospitalization cost savings of more than $3,000 plus drug cost savings of more than $2,000 per patient per year.

For an analyst ratings summary and ratings history on Keryx Biopharmaceuticals click here. For more ratings news on Keryx Biopharmaceuticals click here.

Shares of Keryx Biopharmaceuticals closed at $13.26 yesterday.

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