Auriga: Affymax Earnings Still Not a Major Driver

According to a recent research report published by Auriga, Affymax Inc.'s

reported 4Q11 revenue/EPS, with earnings still not becoming a major driver for the company. In the report, Auriga said, “AFFY provided 2012 expense guidance, but will not provide product revenue guidance at this time. Overall, we continue to see a significant market opportunity for peginesatide, and expect approval later this month. We are reiterating our Buy rating and $17 target.” Affymax closed yesterday at $11.11.