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Affymetrix (NASDAQ:AFFX)‘s stock had its “outperform” rating reissued by Zacks in a report released on Tuesday. They currently have a $11.00 price objective on the stock. Zacks‘s price target indicates a potential upside of 22.77% from the stock’s previous close.

Zacks’ analyst wrote, “Affymetrix posted a robust 75% rise in adjusted earnings to $0.07 for the 2014-second quarter and topped the Zacks Consensus Estimate by $0.04. It was the fifth consecutive quarter in which Affymetrix was able to maintain its earnings momentum after a period of continued losses. 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. Despite a tight academic funding environment, new products and acquisitions along with accretive agreements should propel growth. As such, we continue with our Outperform recommendation and set a target price of $11.00.”

Shares of Affymetrix (NASDAQ:AFFX) traded down 2.46% on Tuesday, hitting $8.74. The stock had a trading volume of 143,603 shares. Affymetrix has a one year low of $4.80 and a one year high of $9.80. The stock has a 50-day moving average of $8.70 and a 200-day moving average of $8.02. The company’s market cap is $641.3 million.

Affymetrix (NASDAQ:AFFX) last announced its earnings results on Thursday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $85.40 million for the quarter, compared to the consensus estimate of $83.30 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts predict that Affymetrix will post $0.18 earnings per share for the current fiscal year.

Separately, analysts at Leerink Swann raised their price target on shares of Affymetrix from $7.50 to $9.00 in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $8.81.

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.

To view Zacks’ full report, visit Zacks’ official website.

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