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UPDATE: JP Morgan Downgrades Affymetrix to Underweight

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JP Morgan lowered its rating on Affymetrix (NASDAQ: AFFX) from Neutral to Underweight on macro risk.

JP Morgan said, "We are lowering our rating on AFFX from Neutral to Underweight on the poor outlook for arrays in academic/research, and limited flexibility for capital deployment following the eBiosciences acquisition. ... With increasing competition in arrays from Illumina and Agilent (Roche even felt the need to exit arrays recently), as well as sequencing and other platforms (desktop sequencers, nanofluidics platforms, etc.), we see little to stabilize the array business, particularly against the backdrop of a challenging U.S. and EU funding environment."

Affymetrix closed at $4.41 on Tuesday.

Latest Ratings for AFFX

DateFirmActionFromTo
Aug 2015Cantor FitzgeraldInitiates Coverage onBuy
Mar 2015UBSInitiates Coverage onNeutral
Feb 2015JP MorganUpgradesUnderweightNeutral

View More Analyst Ratings for AFFX
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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