10% Pullback in Affymax (AFFY) Unwarranted, Baird Says Buy
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Price: $0.00 --0%
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Baird maintained an Outperform rating on Affymax, Inc. (NASDAQ: AFFY) and raised their price target to $30.00 (from $25.00).
"We are raising our Omontys revenue estimates and price target to $30 as we are increasingly confident in the near-term prospects for Omontys to beat consensus revenue," said analyst Christopher J. Raymond.
"While longer term, valuation substantially higher than $30/share is tied to a Fresenius (NYSE: FMS) deal, with visibility on that not until April 2013 we think near term this name can continue to trade higher on a better-than-expected Q312 Omontys print," added Raymond.
Raymond said he would be an especially aggressive buyer after Friday's "unwarranted" 10 percent pullback.
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 $24.47 yesterday.
"We are raising our Omontys revenue estimates and price target to $30 as we are increasingly confident in the near-term prospects for Omontys to beat consensus revenue," said analyst Christopher J. Raymond.
"While longer term, valuation substantially higher than $30/share is tied to a Fresenius (NYSE: FMS) deal, with visibility on that not until April 2013 we think near term this name can continue to trade higher on a better-than-expected Q312 Omontys print," added Raymond.
Raymond said he would be an especially aggressive buyer after Friday's "unwarranted" 10 percent pullback.
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 $24.47 yesterday.
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