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Fly News Breaks for September 25, 2015
KERX
Sep 25, 2015 | 07:06 EDT
Brean Capital lowered its price target on Keryx to $18 from $22 following EU approval for its proprietary drug, ferric citrate. The firm shifted EU revenue out by a year and modeled it now as a a 30% royalty rather than straight revenue with a corresponding increase in SG&A, leading to the price target reduction. Brean Capital reiterated its Buy rating on Keryx shares.
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