Affimed (NASDAQ:AFMD) Stock Rating Upgraded by Zacks Investment Research

Affimed (NASDAQ:AFMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $5.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.34% from the stock’s previous close.

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 brokerages have also weighed in on AFMD. SVB Leerink upped their target price on shares of Affimed from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 24th. BidaskClub raised shares of Affimed from a “hold” rating to a “buy” rating in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a buy rating, Affimed has a consensus rating of “Buy” and a consensus price target of $7.67.

Shares of AFMD traded up $0.11 during trading hours on Tuesday, reaching $4.62. The stock had a trading volume of 970,301 shares, compared to its average volume of 2,065,177. The company has a quick ratio of 3.00, a current ratio of 3.01 and a debt-to-equity ratio of 0.01. Affimed has a 52 week low of $1.42 and a 52 week high of $4.77. The firm has a 50-day moving average of $3.26 and a 200 day moving average of $2.59. The company has a market cap of $342.32 million, a P/E ratio of -6.72 and a beta of 2.77.

Affimed (NASDAQ:AFMD) last announced its earnings results on Tuesday, June 23rd. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.02. The firm had revenue of $5.66 million during the quarter, compared to analyst estimates of $8.51 million. Affimed had a negative net margin of 280.35% and a negative return on equity of 135.08%. As a group, equities analysts expect that Affimed will post -0.47 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of AFMD. Rhumbline Advisers boosted its stake in shares of Affimed by 9.4% during the 4th quarter. Rhumbline Advisers now owns 55,525 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 4,780 shares during the last quarter. State Street Corp boosted its stake in shares of Affimed by 0.9% during the 4th quarter. State Street Corp now owns 1,113,817 shares of the biopharmaceutical company’s stock worth $3,052,000 after buying an additional 9,968 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Affimed by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 337,273 shares of the biopharmaceutical company’s stock worth $925,000 after buying an additional 30,930 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Affimed by 75.2% during the 4th quarter. Bank of Montreal Can now owns 9,278 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 3,981 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Affimed by 108.8% during the 4th quarter. Barclays PLC now owns 84,619 shares of the biopharmaceutical company’s stock worth $232,000 after buying an additional 44,102 shares during the last quarter. Institutional investors own 50.88% of the company’s stock.

Affimed Company Profile

Affimed N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing cancer immunotherapies in the United States, Europe, and Germany. Its lead product candidate is AFM13, a natural killer cell (NK-cell) TandAb, which is in Phase 2a clinical study of relapsed CD30-positive lymphoma and Phase 1b clinical study of anti-PD-1 antibody Keytruda (pembrolizumab) in patients with relapsed Hodgkin lymphoma.

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