Baird Boosts Price Target on Affymax (AFFY) to $17

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Baird raised its price target on Outperform-rated Affymax, Inc. (NASDAQ: AFFY) from $15 to $17 following FDA approval of OMONTYS with a broad dialysis label.

"We think the stock’s weakness in late trading yesterday was due to concerns over announced pricing, the analyst said. "However, in that WAC price is just a starting point, and OMONTYS' true market price will be determined by AFFY's individual contract negotiations, we think such concerns are wholly misplaced."

They recommend buying on any weakness.

For an analyst ratings summary and ratings history on Affymax, Inc. click here. For more ratings news on Affymax, Inc. click here.

Shares of Affymax, Inc. closed at $14.31 yesterday, with a 52 week range of $3.93-$16.25.

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Robert W Baird

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