Jefferies maintains Keryx at buy

Keryx Biopharmaceuticals Inc. was maintained by Jefferies & Co. Inc. analyst Adam Walsh at a buy rating as data from the phase 2 study of KRX-101 for diabetic nephropathy, a $1 billion market opportunity, was presented at the American Society of Nephrology annual meeting, showing strong efficacy, which bodes well for a positive outcome in the ongoing phase 3 trial. Jefferies continues to be optimistic on the company's advancing pipeline, strong management team and solid balance sheet. Shares of the New York City development-stage pharmaceutical company were down 8 cents, or 0.54%, at $14.86 on volume of 610,770 shares versus the three-month running average of 325,105 shares.

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