Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, biopharmaceutical company Affymax (Nasdaq: AFFY) has received a distressing two-star ranking.

With that in mind, let's take a closer look at Affymax's business and see what CAPS investors are saying about the stock right now.

Affymax facts

Headquarters (founded) Palo Alto, Calif. (2001)
Market Cap $452.2 million
Industry Biotechnology
Trailing-12-Month Revenue $47.7 million
Management

CEO John Orwin

CFO Herbert Cross

Cash/Debt $98.5 million / $0.0 million
Competitors Amgen
Roche
Johnson & Johnson

Sources: S&P Capital IQ and Motley Fool CAPS.

On CAPS, 24% of the 132 members who have rated Affymax believe the stock will underperform the S&P 500 going forward.

Earlier this week, one of those bears, All-Star TSIF, touched on the stock's seemingly unsustainable valuation:

I suspect the share price and the drug sales of Omontys will be rather ANEMIC in the ... short run.

Overall ... approval of Affymax's injectable drug Omontys, once [monthly] for those with kidney disease, should be lower cost than the monopoly drugs currently on the market.

The rise in share price prior to the announcement pretty much values Affymax [fairly] for now, especially with the split that will go to [Takeda Pharmaceutical]. ... The road to production is generally long and those investing in FDA catalyst drugs are generally not loyal.

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