Auriga Reiterates a 'Buy' on Affymax (AFFY); Hematide at the FDA; Panel and EU Filing on Track for 1H12
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Price: $0.00 --0%
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
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Auriga reiterates a 'Buy' on Affymax, Inc. (NASDAQ: AFFY) price target of $10.00
Auriga analyst says, "Yesterday, after the close Affymax reported 2Q11 results of $14.2MM/$(0.35), ahead of both the Street and our estimates. Given AFFY's position as a development stage company, earnings are not a major driver. The key event for AFFY remains successful prosecution of the Hematide NDA. AFFY submitted the NDA on May 31, and the application is currently under FDA review (a PDUFA date is pending). In our view, pursuing a single indication (in dialysis patients) enhances the likelihood of a positive panel and we see a high likelihood of FDA approval. The next key event for AFFY will be an FDA panel review, is likely to occur in early 2012. At the current share price levels, we see significant upside potential and reiterate our rating and PT."
For more ratings news on Affymax, Inc. click here and for the rating history of Affymax, Inc. click here.
Shares of Affymax, Inc. closed at $4.67 yesterday.
Auriga analyst says, "Yesterday, after the close Affymax reported 2Q11 results of $14.2MM/$(0.35), ahead of both the Street and our estimates. Given AFFY's position as a development stage company, earnings are not a major driver. The key event for AFFY remains successful prosecution of the Hematide NDA. AFFY submitted the NDA on May 31, and the application is currently under FDA review (a PDUFA date is pending). In our view, pursuing a single indication (in dialysis patients) enhances the likelihood of a positive panel and we see a high likelihood of FDA approval. The next key event for AFFY will be an FDA panel review, is likely to occur in early 2012. At the current share price levels, we see significant upside potential and reiterate our rating and PT."
For more ratings news on Affymax, Inc. click here and for the rating history of Affymax, Inc. click here.
Shares of Affymax, Inc. closed at $4.67 yesterday.
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