Jefferies Reiterates a 'Buy' on Onyx Pharmaceuticals (ONXX); Predicting Strong Kyprolis Launch

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Jefferies reiterates a 'Buy' on Onyx Pharmaceuticals (NASDAQ: ONXX) price target of $101.00.

Analyst, Biren Amin, said, "With Kyprolis recently launched, we conducted a proprietary MM survey to address uncertainty typical around a biotech drug launch. Based on survey results there could be significant upside to our/St current ests and valuation. Our survey results predict a robust launch with stronger-than-expected 2013-14 uptake across key 2nd-line/beyond settings."

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 $67.80 yesterday, with a 52 week range of $29.30-$79.20.

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