Keryx reiterated at buy by Jefferies

Keryx Biopharmaceuticals Inc. was reiterated at a buy and a $25 price target by Jefferies & Co., Inc. analyst Adam Walsh. The Arxxant delay in diabetic retinopathy is a "significant positive" for the company, according to Walsh. The Food and Drug Administration's request not only calls into question Arxxant's viability as a drug for diabetic nephropathy (DN), it cements Keryx' multi-year lead over Eli Lilly to bring a next-generation DN drug to market. Shares of the New York City-based development-stage company were down 18 cents, or 1.50%, at $11.83. (Nasdaq: KERX)

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