Keryx reiterated at buy by Jefferies

Jefferies & Co., Inc. analyst Adam Walsh reiterated Keryx Biopharmaceuticals Inc. at a buy with a 12-month to 18-month price target of $25. According to the analyst, Keryx shares are undervalued given the company's promising pipeline and a solid cash position. The company reported a second-quarter loss per share of $0.41, 4 cents below the analyst's estimate and 1 cent below Street consensus. Shares of the New York City-based development-stage company were down 21 cents, or 2.02%, at $10.18, on volume of 292,353 shares versus the three-month running average of 438,789 shares. (Nasdaq: KERX)

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