Keryx Biopharmaceuticals Inc fka KERX

[lecorb]

DOWNGRADE ALERT FOR KERYX BIOPHARMACEUTICALS (KERX)

Apr 04, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Keryx Biopharmaceuticals (NASDAQ:KERX) was downgraded from Buy to Neutral at Roth Capital today. The stock closed yesterday at $1.52 on volume of 11.0 million shares, above average daily volume of 4.4 million. There is potential upside of 572.3% for shares of Keryx Biopharmaceuticals based on a current price of $1.53 and an average consensus analyst price target of $10.29. Keryx Biopharmaceuticals shares should first meet resistance at the 200-day moving average (MA) of $3.47 and find additional resistance at the 50-day MA of $3.71.

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 $1.51 to $5.55 and closed yesterday at $1.53, 1% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.7%.

SmarTrend is monitoring the recent change of momentum in Keryx Biopharmaceuticals. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Keryx Biopharmaceuticals in search of a potential trend change.

Write to Chip Brian at [e-mail]

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