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12:00 AM
 | 
May 05, 2008
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 5/2 cls
Affymetrix (NASDAQ:AFFX) UBS Derik De Bruin Price target Buy 6% $11.34
De Bruin lowered his target to $17 from $22 citing concerns of poor management execution and disappointing product revenues. Although overall revenue of $79.6M came in around his $79M estimate and the Street's consensus of $81M, product sales were down year-over-year. The company attributed this to shortfalls of $4M for instrument placement sales and $4M for expression array sales. De Bruin also reduced his FY08 and FY09 EPS estimates to $0.25 and $0.40 from $0.31 and $0.57, respectively, and lowered his FY08 and FY09 revenue estimates to $387M and $437M from $395M and $446M, respectively.
Alexion (NASDAQ:ALXN) Cowen Rachel McMinn Other Market outperform 6% $72.92
McMinn raised her FY08 and FY09 revenue estimates to $236.3M from $220.2M and to $374.2M from $357.9M, respectively. She also raised her FY09 EPS estimate to $2.25 from $1.90. McMinn thinks Alexion's revised FY08 Soliris eculizumab revenue guidance of $215-$225M, raised from $200M-$215M, is still conservative, as the company reported better-than-expected 1Q08 sales. The humanized monoclonal antibody targeting C5 was approved last year in the U.S. and the EU to treat paroxysmal nocturnal hemoglobinuria (PNH).
Alexza (NASDAQ:ALXA) JMP Securities Charles Duncan Price target Market outperform -2% $6.55
Duncan raised his target to $12 from $10 on increased management focus on Staccato loxapine (AZ-004) and recent positive feedback on it from physician experts. The inhaled loxapine delivery system is in Phase III to treat acute agitation in patients with schizophrenia or bipolar disorder. He believes that investigator enthusiasm and strong Phase II data could lead to faster than anticipated Phase III enrollment.
Applied Bio (NYSE:ABI) UBS Derik De Bruin Price target Buy 9% $32.96
De Bruin lowered his target to $37 from $39 on last week's earnings. Applied Biosystems met the Street's expectations with 3Q08 EPS of $0.44, but missed the consensus revenue estimate...

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