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UPDATE: Dawson James Initiates Affymax at Market Outperform on Momentum

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Dawson James initiated coverage on Affymax (NASDAQ: AFFY) with a Market Outperform rating and a $32 price target.

Dawson James commented, "Commercialization of new products is always tricky, especially in the current environment; however, we believe Omontys is an ideal product for the dialysis market given the new “bundled” pricing structure. … In addition, the receipt of a permanent “J code” (taking effect January 1, 2013) from the Centers for Medicare and Medicaid Services (CMS) should help lubricate reimbursement conditions and persuade any hold-outs to make the conversion from Epogen to Omontys. As sales growth momentum continues, so also should share price appreciation."

Affymax closed at $23.55 on Monday.

Latest Ratings for AFFY

Mar 2013McNicoll Lewis VlakDowngradesSell
Feb 2013LazardDowngradesBuyNeutral
Feb 2013PiperJaffrayDowngradesOverweightNeutral

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Posted-In: Dawson JamesAnalyst Color Initiation Intraday Update Analyst Ratings


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