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Affymax, Inc. Message Board

  • dinepat203 dinepat203 Apr 24, 2013 12:50 PM Flag

    April 20th 2013 S&P issue report on AFFY shows 89% Institution Hold!

    Key Stock Statistics
    Average Daily Volume 4.337 mil. Beta 1.15
    Market Capitalization $0.038 Bil. Trailing 12 Month EPS $-2.57
    Institutional Holdings (%) 89 12 Month P/E NM
    Shareholders of Record 85 Current Yield (%) Nil

    Wall Street Opinions/Average (Mean) Opinion: Hold of Ratings 80%
    Cash :
    Balance Sheet & Other Financial Data (Million $)
    Cash 78.0
    Current Assets 103
    Total Assets 118
    Current Liabilities 99 19.
    Common Equity 8.28
    Total Capital 17.1

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    • We expect a favorable M&A (mergers and
      acquisitions) climate to continue, as we see large
      pharmaceutical firms working to offset lost
      revenues from expiring drug patents and large
      biotechs aiming to bolster their drug pipelines amid
      maturing products and several years of declining
      industry R&D productivity trends.We also see large
      cap biotechs generating cash flows supporting
      larger scale acquisitions. Of note, industry
      bellwether Amgen in 2011 became the first biotech
      company to initiate a regular dividend.
      In June 2012, the U.S. Supreme Court upheld the
      health care reform law, including the FDA's
      authorization to govern "biosimilar" drug approvals
      and the 12-year exclusivity to branded drugmakers.
      We see biosimilars advancing at a slower rate than
      initially anticipated, noting that Amgen recently
      announced plans to launch several biosimilars in
      2017. Several companies have abandoned biosimilar
      plans due to higher costs and a lack of regulatory
      clarity. Once marketed, we expect biosimilars to sell
      at more modest price discounts than in the
      pharmaceutical industry in general due to higher
      clinical and manufacturing costs.We also expect
      branded drugmakers to retain much of their market
      share due to the lack of interchangeability among
      these options. Longer term, we expect wider
      adoption of biomarker research and
      genetic-targeted clinical studies, helping to shorten
      development times and bolster pipeline productivity.
      We recommend that investors concentrate core
      holdings in established, profitable companies with
      pipeline growth prospects, as smaller biotechs tend
      to be more volatile.We would seek companies with
      at least two years of operating capital and multiple
      pipeline value drivers, as those relying on a single
      value driver typically suffer significant share price
      declines on an unfavorable outcome. Year-to-date
      through April 5, the S&P Biotech Index rose 25.9%,
      versus a 9.0% gain for the S&P 1500 Composite
      Index. In 2012, the sub-industry index rose 40.5%,
      versus a 13.7% gain for the S&P 1500.
      --Steven Silver

0.08+0.0200(+1.67%)Sep 29 12:47 PMEDT