Affymetrix (NASDAQ:AFFX)‘s stock had its “outperform” rating restated by Zacks in a research note issued to investors on Monday, Analyst Ratings Net reports. They currently have a $10.00 price target on the stock. Zacks‘ price objective suggests a potential upside of 17.79% from the company’s current price.
Zacks‘ analyst wrote, “Affymetrix rebounded by reporting earnings for the second time since the first quarter of 2011. Adjusted earnings of $0.05 for the 2013-third quarter beat the Zacks Consensus Estimate by $0.03. Revenues of $80.4 million also exceeded the mark. The company’s restructuring plan to focus on high growth markets is finally paying off as demonstrated by the bottom line growth in the quarter. Strong revenues from genotyping and cytogenetics products and moderate contribution from eBioscience has offset weak gene expression array sales. Despite a tight academic funding environment, new products, acquisitions along with accretive agreements should propel growth. Additionally, the company’s debt reduction efforts are strengthening its balance sheet. As such, we continue with our Outperform recommendation with a target of $10.00.”
Shares of Affymetrix (NASDAQ:AFFX) traded up 0.88% during mid-day trading on Monday, hitting $8.565. The stock had a trading volume of 200,318 shares. Affymetrix has a one year low of $3.05 and a one year high of $8.60. The stock has a 50-day moving average of $7.50 and a 200-day moving average of $5.49. The company’s market cap is $616.0 million.
Affymetrix (NASDAQ:AFFX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $80.40 million for the quarter, compared to the consensus estimate of $78.95 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that Affymetrix will post $0.12 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Mizuho raised their price target on shares of Affymetrix from $10.00 to $12.00 in a research note to investors on Friday, November 22nd. They now have a “buy” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of Affymetrix from $4.00 to $7.00 in a research note to investors on Thursday, October 31st. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $8.20.
Affymetrix, Inc (NASDAQ:AFFX) is engaged in the development, manufacture, sale and service of consumables and systems for genetic analysis in the life sciences and clinical healthcare markets.
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