Keryx Biopharmaceuticals (KERX) Stock Appears to be Trading Up Due to Technicals


Keryx Biopharmaceuticals (NASDAQ:KERX) shares are up big today, on absolutely no company news. It appears as though technical analysis is the driving force in today’s run.

Yesterday, Keryx Biopharmaceuticals (NASDAQ:KERX) closed above a key resistence level, which when coupled with the fact that it has crossed the 50-Day Simple Moving Average, makes the stock a good play for those investors who rely heavily on technical analysis. It must be noted though that the stock did fail to close above the 25 Fibonacci level.

The stock is up 18.35% or $0.89 following the news, hitting $5.74 per share. About 932,655 shares traded hands. KERX has declined 53.05% since May 15, 2015 and is downtrending. It has underperformed the S&P500 by 50.78%.

From a total of 11 analysts covering Keryx Biopharmaceuticals (NASDAQ:KERX) stock, 4 rate it a “Buy”, 3 a “Sell”, and 4 a “Hold”. This means that 36% of the ratings are positive. The highest target price is $18 while the lowest target price is $2.50. The mean of all analyst targets is $9.19 which is 60.10% above today’s ($5.74) stock price. Keryx Biopharmaceuticals was the topic of 15 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley upgraded shares on October 5 to a “Equal-Weight” rating. Citigroup initiated KERX stock in a recent report from September 3 with a “Sell” rating. Finally, FBR Capital initiated the stock with a “Mkt Perform” rating in a report they issued on an August 11.

The institutional sentiment decreased to 0.79 in Q2 2015. It’s down 0.42, from 1.21 in 2015Q2. The ratio fall, as 33 funds sold all their Keryx Biopharmaceuticals shares they owned while 47 reduced their positions. 20 funds bought stakes while 43 increased their total positions. Institutions now own 88.36 million shares which is 2.50% less than the previous share count of 90.63 million in 2015Q2.

Baupost Group Llc Ma holds 1.41% of its total portfolio in Keryx Biopharmaceuticals, equating to 25.79 million shares. Abrams Capital Management L.P. owns 5.00 million shares representing 1.26% of their total US portfolio. Moreover, Rhenman & Partners Asset Management Ab has 0.88% of their total portfolio invested in the company, equating to 1.56 million shares. The Israel-based Sphera Funds Management Ltd. has a total of 0.31% of their portfolio invested in the stock. Knoll Capital Management Lp, a New York-based fund reported 200,000 shares owned.

Since April 8, 2015, the stock had 0 insider purchases, and 5 insider sales for a total of $65,496 in net activity. Adams Brian sold 1,011 shares worth $4,054. Madison Greg sold 1,683 shares worth $10,216. Holmes Scott A sold 2,758 shares worth $21,705. Oliviero James F Iii sold 1,943 shares worth $18,672. The insider Tarnok Michael P. bought 10,000 shares worth $97,300.

Keryx Biopharmaceuticals, Inc. is a biopharmaceutical company. The company has a market cap of $560.35 million. The Firm is focused on the development of products for the treatment of renal diseases. It currently has negative earnings. The Company’s lead product Auryxia , an oral, absorbable iron compound, received marketing approval from the United States Food and Drug Administration (FDA), for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis.