Affymetrix, Inc. (AFFX) Upgraded to Outperform at Robert W. Baird

Affymetrix, Inc. (AFFX) has been upgraded today by the securities research analysts at investment firm Robert W. Baird which upgraded Affymetrix from a “neutral” rating to “outperform,” noting that they are positive regarding Affymetrix’s CEO change.  Baird also increased their performance outlook for Affymetrix and adjusted their price target from $6 to $11 dollars.  ‘AFFX’ is up during intraday trading and hit a new 52-week high by reaching the $7.08 price mark.

Affymetrix representatives are scheduled to attend a variety of conferences in the following days.  On June 15, 2011 they are expected to attend the International Conference on Malignant Lymphoma conference.  Following that, on June 30th, 2011, they are expected to be at the 8th Annual Screening Europe Conference.  Lastly, a couple days later on July 2nd, 2011, they are expected to be at the 8th Annual European Cytogenetics Conference.

Affymetrix is slated to release their next earnings report on July 27th, 2011 and the current consensus EPS estimate is expected to be of a negative, single penny.  Affymetrix’s last earnings report was released on April 27th, 2011 and announced breakeven EPS with revenue totaling $73.7 million which was down -8.1 % year to year.  ‘AFFX’ is currently trading well above its 50 & 200-day moving averages and 2011 is currently an up year for the company.

Affymetrix, Inc. develops, manufactures and sells products and services for genetic analysis to the life science research and clinical healthcare markets. The company has market capitalization of $511,000,000 and 70,540,000 shares outstanding.  AFFX has a 52-week high of $7.08 with the low being $3.75 dollars.

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