MLV Provides Color on Affymax

MLV provided color on Affymax AFFY. In a research report published today, the rating agency commented on the company's new drug peginesatide. In the report, MLV states, “This morning, Affymax and its partner Takeda (TSE: 4502; Not Covered) announced the NDA acceptance by the FDA for peginesatide (formerly known as Hematide™) for the treatment of anemia associated with chronic renal failure (CRF) in adult dialysis patients.” At the moment, the rating agency has a Buy rating and a price target of $12 placed on the company's stock. On Wednesday, AFFY lost 2.03% of its value to finish the day at $6.77.