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Downgrade Alert for Keryx Biopharmaceuticals (KERX)

By James Quinn

Keryx Biopharmaceuticals (NASDAQ:KERX) was downgraded from Buy to Hold at Stifel 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.

Over the past year, Keryx Biopharmaceuticals has traded in a range of $2.80 to $14.89 and closed yesterday at $4.72, 69% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.4% while the 200-day MA has slid 1.7%.

There is potential upside of 116.1% for shares of Keryx Biopharmaceuticals based on a current price of $4.72 and an average consensus analyst price target of $10.20. The stock should find initial resistance at its 200-day moving average (MA) of $4.83 and further resistance at its 50-day MA of $4.84.

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