Company

Bank

Analyst

Coverage

Opinion

Wk chg

3/1 cls

Affymax Inc. (NASDAQ:AFFY)

MLV

Ed Arce

Downgrade

Hold (from buy)

-84%

$2.68

Stifel Nicolaus

Joel Sendek

Downgrade

Hold (from buy)

Arce also removed his $29 target after Affymax and partner Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) announced a voluntary recall of Affymax's once-monthly anemia drug Omontys peginesatide due to new postmarketing reports of serious hypersensitivity reactions that can be life-threatening or fatal. Arce said the announcement was "surprising" and he no longer has sufficient clarity on the viability of Omontys as a commercial product to reasonably project any future revenues. Omontys is approved in the U.S. to treat anemia in chronic kidney disease patients (CKD) on dialysis (see "Two-Speed System," A7).