Baird Reiterates Outperform on Affymax, Inc. with $20 Price Target

Today analysts at Baird reiterated their Outperform rating on Affymax, Inc. (NASDAQ: AFFY) and moved their price target to $20.00.

“With Omontys launching late April, full sales capability not on-line till late June, and dialysis uptake notoriously slow, low Q212 expectations were validated,” said analysts. “However, with revelations of numerous MDO/SDO contracts (only one of which identified by name) and Fresenius conversion happening much faster than we had thought, we think Omontys may yet measurably beat our $20.6M FY12 estimate.”

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 $16.99 yesterday.

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