Shares of the maker of drugs to treat chronic kidney disease rose 7.6% to 8.24 after JPMorgan initiated coverage on the company with a buy rating. Keryx Biopharmaceuticals (KERX) is developing Zerenex, an oral iron-based drug for treating hyperphosphatemia, a serious complication in patients with kidney disease. The analyst believes Keryx's intellectual property covering ferric citrate used in Zerenex will enable it to sell a higher-priced alternative to generic products that may come to market.
- Health Care Industry
- chronic kidney disease