Company

Bank

Analyst

Coverage

Opinion

Wk chg

3/23 cls

Addex Therapeutics (SIX:ADXN)

Jefferies

Peter Welford

Upgrade

Buy (from hold)

65%

CHF10.50

Welford also raised his target to CHF18 from CHF7 after Addex reported positive topline Phase IIa data for oral dipraglurant-IR plus levodopa to treat Parkinson's disease levodopa-induced dyskinesia (PD-LID). He believes "a partnering deal is likely this year, which could drive further upside, and reduce any potential funding overhang." Welford raised his peak sales of dipraglurant-IR in PD-LID to $800M from $450M. The product is an immediate-release formulation of a negative allosteric modulator of metabotropic glutamate receptor subtype 5 (mGluR5) (see "Back in Black," A14).

Affymax Inc. (NASDAQ:AFFY)

Rodman

Michael King

New

Market outperform

20%

$13.42

King set a $20 target. He believes approval of anemia compound peginesatide is "likely" by the March 27 PDUFA date. King also said market uptake of peginesatide will be aided by the once-monthly dosing vs. the average 13 times per month dosing of Epogen epoetin alfa from Amgen Inc. (NASDAQ:AMGN). Peginesatide, a synthetic peptide-based erythropoiesis-stimulating agent (ESA), is partnered with Takeda Pharmaceutical Co. Ltd. (Tokyo:4502).