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Affymax, Inc. Message Board

  • vomen1058 vomen1058 Feb 3, 2012 9:20 AM Flag

    Affymax (AFFY) Has Additional Upside - Analyst

    February 3, 2012 8:54 AM EST

    While shares of Affymax, Inc. (NASDAQ: AFFY) are up 73% since peginesatide's positive ODAC vote December 7, one analyst thinks there is still plenty more upside.

    Baird analyst Christopher Raymond said the market has discounted peginesatide's revenue potential, on the view that Amgen's (Nasdaq: AMGN) US hemodialysis dominance is bullet-proof. However, new survey data shows a strong awareness and willingness to prescribe peginesatide that may surprise some investors.

    BioTrends survey data suggests ESAs may have have stabilized and the underlying
    reason may be real, as more docs are seeing blood transfusions on the rise. In addition, data showed that roughly 3/4 of docs prefer some administration schedule other than current 3X/week regimen. This bodes well for peginesatide’s once-monthly profile, the analyst aid. Also, Docs continue to indicate high interest in peginesatide, suggesting approximately 39% of their dialysis patients would be candidates if approved.

    Raymond said this data indicate launch potential that justifies significant upside to the stock. He reiterated their Outperform rating and $13 price target saying they remain "aggressive buyers."

    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 $10.15 yesterday, with a 52 week range of $3.93-$10.21.

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