While acknowledging it is a speculative assertion, Baird says they are positive on Affymax (NASDAQ:AFFY) on the possibility of their Hematide being approved.
Baird says, "While we stress the speculative nature of this call, we are nonetheless incrementally positive on AFFY shares ahead of what we think will be steadily improving sentiment on Hematide's approval chances as 2011 unfolds. Starting with Hematide's NDA filing next quarter and culminating in a Q112 AdCom review, we think the plausibility of a dialysis-only label for Hematide may become increasingly apparent."
Baird maintains an "Outperform" rating on Affymax, Inc., which closed Thursday at $6.95, down $0.05, or 0.71 percent. Baird has a price target on them of $13.
Showing posts with label Baird. Show all posts
Showing posts with label Baird. Show all posts
Friday, January 14, 2011
Friday, January 7, 2011
Pharmasset (NASDAQ:VRUS) Gets Positive Update on '7977 and '938
Citing another positive update on Pharmasset's (NASDAQ:VRUS) '7977 and '938, Baird sees the Phase 2 data release as a value-creation period.
Baird said, "Reiterate rating on another positive update for '7977 and '938 and robust catalyst flow. This latest in a series of positive/confirmatory updates reinforces our thesis that the ongoing Phase 2 data rollout should be a key value-creation period, and one where data already in-hand provides a relatively-higher degree of confidence. VRUS remains a top idea for smid-cap growth, with significant upside to our $54 target on continued success and robust 2011 catalyst flow."
Baird reiterates an "Outperform" rating on Pharmasset, which closed Thursday at $46.24, down $0.35, or 0.75 percent, Baird has a price target of $54 on them.
Baird said, "Reiterate rating on another positive update for '7977 and '938 and robust catalyst flow. This latest in a series of positive/confirmatory updates reinforces our thesis that the ongoing Phase 2 data rollout should be a key value-creation period, and one where data already in-hand provides a relatively-higher degree of confidence. VRUS remains a top idea for smid-cap growth, with significant upside to our $54 target on continued success and robust 2011 catalyst flow."
Baird reiterates an "Outperform" rating on Pharmasset, which closed Thursday at $46.24, down $0.35, or 0.75 percent, Baird has a price target of $54 on them.
Tuesday, November 30, 2010
Human Genome Sciences (Nasdaq:HGSI) High on Baird's List
Baird analysts remain extremely bullish on Human Genome Sciences, Inc. (Nasdaq:HGSI), saying they would be "aggressive buyers" of the company.
They maintain their "Outperform" rating and price target on the company.
Baird analyst Christopher Raymond said, "While a three-month administrative delay beyond Benlysta's December 9 PDUFA is expected, the positive FDA AdCom vote did significantly de-risk the drug, in our view. Given this, and given the market misperceptions addressed herein, we would be aggressive buyers."
Citing a short window to PDUFA, their EPS estimates for the first quarter of 2011, full year 2011, and full year 2012 were lowered to $1.6 million, $161.4 million, and $793.8 million.
Human Genome Sciences closed Monday at $24.79, losing $0.11, or 0.44 percent. Baird has a price target of $32 on the company.
They maintain their "Outperform" rating and price target on the company.
Baird analyst Christopher Raymond said, "While a three-month administrative delay beyond Benlysta's December 9 PDUFA is expected, the positive FDA AdCom vote did significantly de-risk the drug, in our view. Given this, and given the market misperceptions addressed herein, we would be aggressive buyers."
Citing a short window to PDUFA, their EPS estimates for the first quarter of 2011, full year 2011, and full year 2012 were lowered to $1.6 million, $161.4 million, and $793.8 million.
Human Genome Sciences closed Monday at $24.79, losing $0.11, or 0.44 percent. Baird has a price target of $32 on the company.
Affymax's (NASDAQ:AFFY) Hemitide Remains on Track
The process of filing for Affymax's (NASDAQ:AFFY) dialysis treatment, Hematide, remains on track, and Baird maintains their "Outperform" rating on the company.
Baird said, "We continue to recommend purchase of AFFY shares following management's confirmation that pursuant to a pre-NDA meeting with FDA, Hematide's US dialysis filing remains on track (Q211). Despite the stock's post-ASN run - up - 30% versus BTK flat - on an improved outlook for Hematide's approvability in dialysis, we continue to perceive the risk/reward on AFFY shares as favorable, and remain buyers into the low teens."
Affymax closed Monday at $7.16, falling $0.40, or 5.29 percent. Baird has a price target of $13 on them.
Baird said, "We continue to recommend purchase of AFFY shares following management's confirmation that pursuant to a pre-NDA meeting with FDA, Hematide's US dialysis filing remains on track (Q211). Despite the stock's post-ASN run - up - 30% versus BTK flat - on an improved outlook for Hematide's approvability in dialysis, we continue to perceive the risk/reward on AFFY shares as favorable, and remain buyers into the low teens."
Affymax closed Monday at $7.16, falling $0.40, or 5.29 percent. Baird has a price target of $13 on them.
Friday, November 26, 2010
Pharmasset (Nasdaq:VRUS) Pipeline Still in Early Stages
Baird said they continue to recommend shares of Pharmasset (Nasdaq:VRUS), although it must be understood they they're still in the early stage of developing their pipeline.
Baird said, "Continue to recommend purchase on confirmatory FQ4-10 update. There were a few bits of incremental progress, in line with expectations and likely not stock-moving. We view Phase 2 data rollout as the best value-creating period to invest in Hepatitis C companies, and it’s still early innings there when considering VRUS’s full pipeline. The thesis is fully intact, catalyst flow is robust, and VRUS is likely to remain a top small-/emerging mid-cap idea heading into 2011."
For full year 2011, EPS was lowered from -$1.99 to -$2.15 and for full year 2012 from -$1.65 to -$2.10.
Pharmasset closed Wednesday at $43.59, gaining $1.41, or 3.34 percent.
Baird said, "Continue to recommend purchase on confirmatory FQ4-10 update. There were a few bits of incremental progress, in line with expectations and likely not stock-moving. We view Phase 2 data rollout as the best value-creating period to invest in Hepatitis C companies, and it’s still early innings there when considering VRUS’s full pipeline. The thesis is fully intact, catalyst flow is robust, and VRUS is likely to remain a top small-/emerging mid-cap idea heading into 2011."
For full year 2011, EPS was lowered from -$1.99 to -$2.15 and for full year 2012 from -$1.65 to -$2.10.
Pharmasset closed Wednesday at $43.59, gaining $1.41, or 3.34 percent.
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