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TMCNet:  Hot Stock: Keryx Biopharmaceuticals, Shares Drop 7.6% (KERX)

[December 21, 2012]

Hot Stock: Keryx Biopharmaceuticals, Shares Drop 7.6% (KERX)

Dec 21, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Keryx Biopharmaceuticals (NASDAQ:KERX) is one of today's worst performing low-priced stocks, down 7.6% to $2.56 on 1.4x average daily volume. Thus far today, Keryx Biopharmaceuticals has traded 1.5 million shares, vs. average volume of 1.0 million shares per day. The stock has underperformed the Dow (-7.6% to the Dow's -1.3%) and underperformed the S&P 500 (-7.6% to the S&P's -1.4%) during today's trading.

In the past 52 weeks, shares of Keryx Biopharmaceuticals have traded between a low of $1.28 and a high of $5.55 and are now at $2.56, which is 100% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

Keryx Biopharmaceuticals has overhead space with shares priced $2.56, or 41.5% below the average consensus analyst price target of $4.38. Keryx Biopharmaceuticals shares should encounter resistance at the 50-day moving average (MA) of $2.73 and support at its 200-day MA of $2.38.

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.

SmarTrend recommended that subscribers consider buying shares of Keryx Biopharmaceuticals on April 24th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.83. Since that recommendation, shares of Keryx Biopharmaceuticals have risen 51.4%. We continue to monitor KERX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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