McNicoll Lewis & Vlak initiates coverage on Keryx Biopharmaceuticals (NASDAQ: KERX) with a Buy. PT $33. MLV analyst says, "Keryx has two promising compounds in Phase III (PhIII) trials for three distinct indications: perifosine for metastatic colorectal cancer (mCRC) and multiple myeloma (MM) - both conducted under Special Protocol Assessments (SPA) and Fast Track review; and Zerenex (ferric citrate) for hyperphosphatemia...We expect several near-term catalysts, including: 1) positive PhIII data for perifosine in mCRC in 4Q:11, 2) NDA filing for perifosine in mCRC in 1Q:12, and 3) NDA filing for Zerenex in hyperphosphatemia in 3Q:12. Keryx has also stated its intent to establish a co-promotion agreement for Zerenex." For more ratings news on Keryx Biopharmaceuticals click here and for the rating history of Keryx Biopharmaceuticals click here. Shares of Keryx Biopharmaceuticals closed at $4.60 yesterday, with a 52 week range of $3.03-$6.36.
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