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Keryx Biopharmaceuticals Grabs an Important Approval

KERX Total Return Price Chart
KERX Total Return Price Chart

Today's news caused the stock to pop a bit, and I'm sure that long-term Keryx bulls have their fingers crossed that this news marks the end of the stock's downward movement. While it's impossible to tell ahead of time if that is the case, short-sellers have been piling into this name all year based on disappointing early results for Auryxia, so if the company can successfully diversify its revenue into Europe, the bears may start to hibernate. We will see soon enough it that's the case.

Keryx's stock has been hard to love this year, but today's announcement should give investors a reason to be optimistic about the company's future. However, until we see signs that Auryxia can get its mojo going in the U.S., I'm content to watch this name from the sidelines.

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The article Keryx Biopharmaceuticals Grabs an Important Approval originally appeared on Fool.com.

Brian Feroldi has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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