Company

Bank

Analyst

Coverage

Opinion

Wk chg

4/23 cls

Affymax Inc. (NASDAQ:AFFY)

Summer Street

Carol Werther

Price target

Buy

2%

$24.47

Werther lowered her target to $36 from $49. She expects the company will raise cash prior to a potential launch of Hematide. The synthetic peptide-based erythropoiesis-stimulating agent (ESA) is in Phase III testing to treat anemia in chronic kidney disease (CKD) patients. Werther expects positive data this quarter and an NDA submission in 2H10, with a launch in 2H11.

Alexion Pharmaceuticals Inc. (NASDAQ:ALXN)

UBS

Jeff Elliott

Price target

Buy

3%

$56.27

Elliott raised his target to $66 from $56 to reflect increased confidence in the likelihood of a label expansion for Soliris eculizumab to include atypical hemolytic uremic syndrome (aHUS). He noted the company recently completed enrollment in four Phase II trials for the indication and thinks it indicates significant unmet patient demand. The humanized mAb targeting complement 5 (C5) is approved in Canada, U.S. and the EU to treat paroxysmal nocturnal hemoglobinuria (PNH) (see B25).