Tuesday, November 30, 2010

Affymax's (NASDAQ:AFFY) Hemitide Remains on Track

The process of filing for Affymax's (NASDAQ:AFFY) dialysis treatment, Hematide, remains on track, and Baird maintains their "Outperform" rating on the company.

Baird said, "We continue to recommend purchase of AFFY shares following management's confirmation that pursuant to a pre-NDA meeting with FDA, Hematide's US dialysis filing remains on track (Q211). Despite the stock's post-ASN run - up - 30% versus BTK flat - on an improved outlook for Hematide's approvability in dialysis, we continue to perceive the risk/reward on AFFY shares as favorable, and remain buyers into the low teens."

Affymax closed Monday at $7.16, falling $0.40, or 5.29 percent. Baird has a price target of $13 on them.

No comments: