Merrill puts Keryx at buy

Keryx Biopharmaceuticals Inc. was rated at buy by Merrill Lynch analyst Tom McGahren as the company reported a first-quarter loss per share of $0.37, wider than Merrill's estimate of $0.25. The difference is attributed to higher research and development spending related to clinical progress of the company's pipeline. Keryx has about $171 million in cash, with an expected burn rate of about $50 million in 2006. The analyst's 2006 loss per share estimate is $1.39, ex-options, from $1.09. Shares of the New York, N.Y., biopharmaceutical company were up 18 cents, or 1.03%, at $17.62 on volume of 390,274 shares versus the three-month running average of 350,757 shares. (Nasdaq: KERX)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.