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Shares of Keryx Biopharm Fall Below Previous 52-Week Low

By Amy Schwartz

Keryx Biopharm (NASDAQ:KERX) traded today at a new 52-week low of $2.85. Approximately 139,000 shares have changed hands today, as compared to an average 30-day volume of 794,000 shares.

Keryx Biopharmaceuticals, Inc. is focused on developing and commercializing pharmaceuticals for the treatment of renal disease. The Company's product candidate completed Phase 3 testing, pursuant to an SPA agreement with the FDA, for hyperphosphatemia in ESRD patients. The product candidate is also in Phase 2 for non-dialysis dependent CKD patients with iron-deficiency anemia.

Potential upside of 136.4% exists for Keryx Biopharm, based on a current level of $2.87 and analysts' average consensus price target of $6.79. The stock should run into initial resistance at its 50-day moving average (MA) of $3.70 and subsequent resistance at its 200-day MA of $4.47.

In the past 52 weeks, Keryx Biopharm share prices have been bracketed by a current low of $2.85 and a high of $8.38 and are now at $2.87. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Keryx Biopharm on June 25th, 2018 by issuing a Downtrend alert when the shares were trading at $4.84. Since that call, shares of Keryx Biopharm have fallen 40.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows keryx biopharm

Ticker(s): KERX