Keryx Biopharmaceuticals Crosses Below its 10-day MA (KERX)

Published on Mon, 03/09/2015 - 11:20
By Peter Chu in Moving average crossovers, KERX, keryx biopharmaceuticals, moving crosses, nasdaq:kerx

Today, shares of Keryx Biopharmaceuticals (NASDAQ:KERX) have crossed bearishly below their 10-day moving average of $12.45 on a volume of 471K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Keryx Biopharmaceuticals (NASDAQ:KERX) has potential upside of 103.3% based on a current price of $12.21 and analysts' consensus price target of $24.82. The stock should find initial resistance at its 50-day moving average (MA) of $12.88 and further resistance at its 200-day MA of $14.64.

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.

In the past 52 weeks, shares of Keryx Biopharmaceuticals have traded between a low of $1.28 and a high of $18.48 and are now at $12.21, which is 854% above that low price. The 200-day and 50-day moving averages have moved 0.01% lower and 1.14% lower over the past week, respectively.

By Peter Chu
pchu@fnno.com

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