Baird Q2 Preview on Affymax, Inc. (AFFY): Expectations are Low, But Survey Highlights Positive Data

July 13, 2012 12:13 PM EDT
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Price: $0.06 --0%

Rating Summary:
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    Up: 11 | Down: 22 | New: 54
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Baird reiterates an 'Outperform' on Affymax, Inc. (NASDAQ: AFFY), new price target of $18.00.

Analyst, Christopher Raymond, said, "Heading into Q212 earnings, (anticipate early August), we think expectations are low, given late April launch/traditionally slow nephrology ramps. However, as a new survey highlights, current Omontys use is measurable and expected uptake is meaningfully ahead of our model. Given nephrologists' historical tendencies to overstate preference-share, and given that dialysis is highly contract-driven, we wouldn't necessarily go overboard on these data. Nonetheless, this feedback is encouraging and supports our anticipation of a successful launch."

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 $14.24 yesterday.

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