Canaccord Genuity Maintains a 'Buy' on Onyx Pharmaceuticals (ONXX); Year-end Nexavar Sales Beat
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Price: $93.03 +0.13%
Rating Summary:
20 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
20 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade ONXX Now!
Canaccord Genuity maintains a 'Buy' on Onyx Pharmaceuticals (NASDAQ: ONXX) price target of $43.00.
Analyst, George Farmer, said, "We are buyers following recent pullback of ONXX shares as Nexavar franchise strength and pipeline diversity drive accretive value...We see only upside from potential FDA accelerated approval of the carfilzomib NDA for relapsed/refractory multiple myeloma by the July 27 PDUFA date. We believe full approval only is priced in the stock, which would be supported by the Phase III ASPIRE trial now fully enrolled ahead of schedule. Interim data could come H1/13. As discussed before, we like the near-term risk/reward for potentially positive top-line data expected H1/12 from the Phase III Nexavar MISSION trial in advanced non small cell lung cancer. Nevertheless, we see a limited Nexavar sales opportunity in this setting."
For an analyst ratings summary and ratings history on Onyx Pharmaceuticals click here. For more ratings news on Onyx Pharmaceuticals click here.
Shares of Onyx Pharmaceuticals closed at $37.72 yesterday, with a 52 week range of $27.17-$46.07.
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Analyst, George Farmer, said, "We are buyers following recent pullback of ONXX shares as Nexavar franchise strength and pipeline diversity drive accretive value...We see only upside from potential FDA accelerated approval of the carfilzomib NDA for relapsed/refractory multiple myeloma by the July 27 PDUFA date. We believe full approval only is priced in the stock, which would be supported by the Phase III ASPIRE trial now fully enrolled ahead of schedule. Interim data could come H1/13. As discussed before, we like the near-term risk/reward for potentially positive top-line data expected H1/12 from the Phase III Nexavar MISSION trial in advanced non small cell lung cancer. Nevertheless, we see a limited Nexavar sales opportunity in this setting."
For an analyst ratings summary and ratings history on Onyx Pharmaceuticals click here. For more ratings news on Onyx Pharmaceuticals click here.
Shares of Onyx Pharmaceuticals closed at $37.72 yesterday, with a 52 week range of $27.17-$46.07.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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