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Downgrade Alert for Keryx Biopharmaceuticals (KERX)

By David Diaz

Keryx Biopharmaceuticals (NASDAQ:KERX) was downgraded from Buy to Hold at Maxim today. The stock closed yesterday at $4.72 on volume of 14.0 million shares, above average daily volume of 2.1 million.

Keryx Biopharmaceuticals, Inc. is a biopharmaceutical company focused on the acquisition, development, and commercialization of novel pharmaceutical products for the treatment of life-threatening diseases, including diabetes and cancer. Keryx is developing KRX-101 (sulodexide), a novel first-in-class oral heparinold compound for the treatment of diabetic nephropathy.

Keryx Biopharmaceuticals has overhead space with shares priced $4.72, or 53.7% below the average consensus analyst price target of $10.20. The stock should run into initial resistance at its 200-day moving average (MA) of $4.83 and subsequent resistance at its 50-day MA of $4.84.

Keryx Biopharmaceuticals share prices have moved between a 52-week high of $14.89 and a 52-week low of $2.80 and closed yesterday at 69% above that low price at $4.72 per share. The 200-day and 50-day moving averages have moved 1.71% lower and 3.45% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Keryx Biopharmaceuticals on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.49. Since that recommendation, shares of Keryx Biopharmaceuticals have risen 64.1%. We continue to monitor KERX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades keryx biopharmaceuticals

Ticker(s): KERX