Baird Positive on Affymax (NASDAQ:AFFY) Over Hematide's Approval Chances

While acknowledging it is a speculative assertion, Baird says they are positive on Affymax (NASDAQ:AFFY) on the possibility of their Hematide being approved.

Baird says, "While we stress the speculative nature of this call, we are nonetheless incrementally positive on AFFY shares ahead of what we think will be steadily improving sentiment on Hematide's approval chances as 2011 unfolds. Starting with Hematide's NDA filing next quarter and culminating in a Q112 AdCom review, we think the plausibility of a dialysis-only label for Hematide may become increasingly apparent."

Baird maintains an "Outperform" rating on Affymax, Inc., which closed Thursday at $6.95, down $0.05, or 0.71 percent. Baird has a price target on them of $13.