Company

Bank

Analyst

Coverage

Opinion

Wk chg

3/30 cls

Active Biotech AB (SSE:ACTI)

Jefferies

Peter Welford

Upgrade

Hold (from underperform)

0%

SEK46.60

Welford also raised his target to CHF40 from CHF14. He noted that discussions with partner Ipsen Group (Euronext:IPN) regarding tasquinimod (TASQ) "suggest encouraging enrollment in the Phase III first-line metastatic castration-resistant prostate cancer (CRPC) trial, and mid-term plans to expand development if this study demonstrates a PFS benefit." Active Biotech is partnered with Ipsen to co-develop and commercialize Active Biotech's TASQ, a second-generation linomide. Welford also says the company has funds to carry it well into 2H13.

Affymax Inc. (NASDAQ:AFFY)

Baird

Christopher Raymond

Price target

Market outperform

-13%

$11.74

Rodman

Michael King

Price target

Market outperform

Raymond raised his target to $17 from $15 after FDA approved once-monthly Omontys peginesatide to treat anemia in chronic kidney disease (CKD) patients who are on dialysis (see B12). He reiterated his U.S. 2012 and 2013 Omontys revenue estimates of $21M and $128M, respectively. The synthetic peptide-based erythropoiesis-stimulating agent (ESA) is partnered with Takeda Pharmaceutical Co. Ltd. (Tokyo:4502).