Piper Jaffray Raises Price Target on Affymax (AFFY)
October 11th, 2012 - 0 comments - Filed Under - by Patrick Bannon
Investment analysts at Piper Jaffray boosted their target price on shares of Affymax (NASDAQ: AFFY) from $26.00 to $36.00 in a note issued to investors on Thursday. The firm currently has an “overweight” rating on the stock.
Shares of Affymax opened at 26.12 on Thursday. Affymax has a one year low of $4.31 and a one year high of $26.85. The company’s market cap is $945.3 million.
Affymax last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($0.89) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.67) by $0.22. The company’s quarterly revenue was down 80.3% on a year-over-year basis. On average, analysts predict that Affymax will post $-1.47 earnings per share for the current fiscal year.
AFFY has been the subject of a number of other recent research reports. Analysts at Lazard Capital raised their price target on shares of Affymax from $20.00 to $28.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Affymax from $20.00 to $25.00 in a research note to investors on Thursday, September 20th. They now have an “outperform” rating on the stock. Finally, analysts at Robert W. Baird reiterated an “outperform” rating on shares of Affymax in a research note to investors on Thursday, August 9th. They now have a $20.00 price target on the stock.
Affymax, Inc. is a biopharmaceutical company developing drugs to improve the treatment of serious and often life-threatening conditions