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Keryx could be worth $1-2B in M&A: Raymond James

July 4, 2017

Raymond James maintains Outperform on Keryx Biopharma (NASDAQ: KERX) price target of $9.00.

Analyst Reni Benjamin said the company could fetch over a $1 billion in a deal which may occur before the company releases Pdufa data in November according to an email reviewed by Street Insider. That would be a premium of nearly 20% over the current market capitalization of $805 million.

Benjamin comments that should strong prescription trends persist “we believe they will likely need to raise guidance.”

Benjamin speculated that possible suitors could be either DaVita (NYSE: DVA), Sanofi (NYSE: SNY) or Vifor Frensenius, the JV operation between Vifor Pharma and Fresenius Medical Care (NYSE: FMS). He says that as biotech firms reach commercialization there has been chatter for the potential for M&A.


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