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12:00 AM
 | 
Mar 24, 2008
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Analyst picks & changes
Company Bank Analyst Coverage Opinion Wk chg 3/20 cls
Affymax (NASDAQ:AFFY) Summer Street Carol Werther Price target Buy -13% $13.78
Werther lowered her target to $32 from $41. She expects rising R&D costs and the contracting global market for erythropoiesis-stimulating agents (ESAs) to negatively affect peak sales of the company's Hematide, an amino acid sequence of ESA that is unrelated to the naturally occurring sequence. Hematide is in Phase III trials to treat anemia in chronic renal failure patients.
Alexza (NASDAQ:ALXA) JMP Securities Charles Duncan Upgrade Market outperform (from market perform) -6% $6.91
Duncan set a $10 target. He was pleased the company switched its late stage clinical focus to AZ-004, an inhaled loxapine delivery system in Phase III to treat acute agitation in patients with schizophrenia. Duncan feels AZ-004 produced strong Phase II data, uses a well-established and universally recognized Phase III endpoint of change from baseline PANSS score, and provides a...

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