Analyst Sees Affymax's (AFFY) Omontys as Comparable to Amgen's (AMGN) Epogen; Raises AFFY Target to $21

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May 21, 2012 12:17 PM EDT
Get Alerts AFFY Hot Sheet
Price: $0.00 --0%

Rating Summary:
    3 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Shares of Affymax, Inc. (NASDAQ: AFFY) are up a sharp 7.3 percent Monday, potentially on the heels of a raised price target from McNicoll Lewis & Vlak's Ed Arce earlier. The analyst now expects the stock to rise to $21 over the next year, up from $12 previously.

Arce cited the recent ramp-up and launch of Omontys. The analyst said Omontys is now gaining early traction with small, medium and independent nephrologists as a comparable to Amgen's (Nasdaq: AMGN) Epogen.

Arce maintains a Buy rating on shares of Affymax.

With the stock last trading around $14, MLV's new target implies potential upside of about 50 percent.

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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