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FBR Analyst Comments on Keryx Biopharmaceuticals (KERX) Ahead of 2Q:16 Earnings Results

After an encouraging update from Keryx Biopharmaceuticals (NASDAQ:KERX) management about approved drug Auryxia, a phosphate binder designed to treat iron deficiency anemia (IDA) for non-dialysis dependent patients suffering from chronic kidney disease, FBR analyst Christopher James favorably previews the biotech company’s second-quarter results. James reiterates a Buy rating with a price target of $13.00, marking a nearly 74% increase from where the stock is currently trading.

James forecasts with a capture rate of 57%, growth of Auryxia prescriptions could realistically reach 12,565 for this quarter- a growth of 37% improvement compared to the first quarter’s growth of 16%. The analyst remains “encouraged by the...