Affimed (NASDAQ:AFMD) Upgraded at Zacks Investment Research

Affimed (NASDAQ:AFMD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Affimed N.V is a clinical stage biopharmaceutical company. It is engaged in developing single and combination therapies to treat cancers. The company’s product pipeline consists of AFM13, AFM24, AFM26, AFM11 and AMV564 which are in clinical stage. Affimed N.V, formerly known as Affimed Therapeutics B.V., is based in Heidelberg, Germany. “

A number of other equities analysts also recently issued reports on AFMD. Stifel Nicolaus initiated coverage on shares of Affimed in a research note on Wednesday, September 29th. They set a “buy” rating and a $12.00 price objective on the stock. SVB Leerink reduced their target price on shares of Affimed from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Affimed currently has a consensus rating of “Buy” and an average target price of $12.83.

Shares of AFMD traded up $0.10 during midday trading on Thursday, hitting $5.95. 22,369 shares of the company traded hands, compared to its average volume of 2,019,753. The firm has a 50 day moving average of $6.32 and a 200-day moving average of $7.70. Affimed has a 52 week low of $3.09 and a 52 week high of $11.74. The stock has a market cap of $584.81 million, a price-to-earnings ratio of -12.93 and a beta of 2.67. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 3.38.

Affimed (NASDAQ:AFMD) last announced its quarterly earnings results on Tuesday, September 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.10). Affimed had a negative net margin of 91.76% and a negative return on equity of 34.91%. The business had revenue of $11.70 million during the quarter, compared to the consensus estimate of $13.57 million. During the same period in the previous year, the business posted ($0.18) EPS. Sell-side analysts predict that Affimed will post -0.34 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in shares of Affimed by 26.1% in the 1st quarter. Rhumbline Advisers now owns 101,298 shares of the biopharmaceutical company’s stock worth $801,000 after acquiring an additional 20,944 shares during the period. BlackRock Inc. grew its holdings in shares of Affimed by 31.6% during the first quarter. BlackRock Inc. now owns 7,028,783 shares of the biopharmaceutical company’s stock worth $55,598,000 after buying an additional 1,687,215 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Affimed by 11.8% during the first quarter. Principal Financial Group Inc. now owns 24,066 shares of the biopharmaceutical company’s stock worth $190,000 after buying an additional 2,541 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Affimed by 26.0% in the first quarter. Russell Investments Group Ltd. now owns 211,614 shares of the biopharmaceutical company’s stock worth $1,672,000 after acquiring an additional 43,725 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Affimed by 4.8% in the first quarter. New York State Common Retirement Fund now owns 154,300 shares of the biopharmaceutical company’s stock worth $1,221,000 after acquiring an additional 7,128 shares during the last quarter. Hedge funds and other institutional investors own 72.98% of the company’s stock.

About Affimed

Affimed NV engages in the discovery and development of cancer immunotherapies. It offers ROCK novel proprietary antibody platform, which delivers types of next-generation tetravalent antibody formats, including bispecific and trispecific innate cell engagers. It operates through the following geographical segments: Germany, Europe, and USA.

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