Analysts Raise Price Targets on Affymax (AFFY) Following FDA Approval of OMONTYS

A number of analyst firms have revised estimates and price targets on Affymax (Nasdaq: AFFY) following Tuesday's news of FDA approval for its anemia treatment OMONTYS and the resulting 4 percent move higher in the stock. Shares had ran up nearly 20 percent last week ahead of the expected FDA nod.

Rodman & Renshaw's Mike King raised his target on Affymax shares from $20 to $24 and maintained a Market Outperform rating. Stifel Nicolaus' Joel Sendek lifted his target from $19 to $22 and maintained a Buy rating. Finally, a Baird analyst raised his target from $15 to $17 this morning. Click here to see more color on that note.

Investors in Affymax shares are taking profits Wednesday afternoon. The stock is down 7.8 percent to $13.20 at last check.

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

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