Keryx Biopharmaceuticals, Inc., a biopharmaceutical company, focuses
on the acquisition, development, and commercialization of pharmaceutical
products for the treatment of renal disease in the United States. It is
developing Zerenex (ferric citrate), an oral, ferric iron-based
compound that has the capacity to bind to phosphate in the
gastrointestinal tract and form non-absorbable complexes. The company
has completed Phase III clinical program for Zerenex for the treatment
of hyperphosphatemia (elevated phosphate levels) in patients with
end-stage renal disease on dialysis. Zerenex is also in Phase II
development for the management of phosphorus and iron deficiency in
anemic patients with stages three to five non-dialysis dependent chronic
kidney diseases.
Please take a look at the 1-year chart of KERX (Keryx Biopharmaceuticals, Inc.) below with my added notations:
KERX has held a very important level of support at $12 (blue) since
mid-November. That $12 support was also resistance back in October. Now,
the stock is approaching $12 again and that might provide another
bounce higher. However, the stock’s recent lagging of the overall market
could be setting the stock up for a breakdown.
The Tale of the Tape: KERX has a key level of support at $12. A
trader could enter a long position at $12 with a stop placed under the
level. If the stock were to break below the support, a short position
would be recommended instead.
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