Auriga Maintains a 'Buy' on Affymax, Inc. (AFFY); Milestone Payments Drive Q1 Upside; Continue Seeing Market Opp for Omontys
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Price: $0.00 --0%
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Auriga maintains a 'Buy' on Affymax, Inc. (NASDAQ: AFFY) price target of $17.00.
Analyst, Peter McDonald, said, "AFFY reported 1Q12 revenue/EPS of $63MM/$0.87, ahead of our estimate and consensus primarily due to higher than expected milestone and reimbursement payments from partner Takeda. Profitability was driven by the large approval milestone related to FDA approval and will not likely be sustained. The key focus remains the commercial launch of Omontys (peginesatide), which became available on April 24. AFFY and Takeda are in discussions with a range of dialysis providers, including the two largest; DaVita (NYSE: DVA)(NotRated) and Fresenius (NYSE: FMS)(NR). Overall, we continue to see a significant market opportunity for Omontys, but expect the launch will take time to unfold. However, once a center is converted we believe the hurdles to switching back may provide key protection if and when other agents become available."
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 $13.29 yesterday.
Analyst, Peter McDonald, said, "AFFY reported 1Q12 revenue/EPS of $63MM/$0.87, ahead of our estimate and consensus primarily due to higher than expected milestone and reimbursement payments from partner Takeda. Profitability was driven by the large approval milestone related to FDA approval and will not likely be sustained. The key focus remains the commercial launch of Omontys (peginesatide), which became available on April 24. AFFY and Takeda are in discussions with a range of dialysis providers, including the two largest; DaVita (NYSE: DVA)(NotRated) and Fresenius (NYSE: FMS)(NR). Overall, we continue to see a significant market opportunity for Omontys, but expect the launch will take time to unfold. However, once a center is converted we believe the hurdles to switching back may provide key protection if and when other agents become available."
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 $13.29 yesterday.
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