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J.P. Morgan Remains Positive on Keryx Biopharmaceuticals Following $125 Million Raising

J.P. Morgan analyst Whitney Ijem came out today with a brief commentary on Keryx Biopharmaceuticals (NASDA:KERX), after the company announced this morning that it is raising $125 million via private placement of convertible notes, and implementing plans to reduce costs. The analyst rates Keryx shares an Overweight, with a price target of $16, which represents a potential upside of 302% from where the stock is currently trading.

Ijem noted, “It (the raising)...