Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and renal disease.
This stock has had its share of gyrations. It has a 52 week high of around $5.55 and has a bunch of followers and investors who are enthusiastic about its KRX-0401 (perifosine), an oral anti-cancer agent that inhibits Akt activation in the phosphoinositide 3-kinase (PI3K).
Note that the stock did not move based on the KRX-0401 today. KERX moved today on news about their drug Zerenex (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate in the gastrointestinal tract and form non-absorbable complexes. Zenerex got a positive review from a study in Japan thereby causing the stock to react positively. Is there more in the tank?
This stock has a 200 day moving average of $3.27, and a 50 day moving average of $3.23. Can the stock rally back to these levels on this positive study?
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.