Jefferies Said Onyx Pharmaceuticals (ONXX) ASCO Data Confirm Concerns On Carf Regulatory Outlook
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Price: $95.65 +0.31%
Rating Summary:
20 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
20 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Jefferies commented on Onyx Pharmaceuticals (NASDAQ: ONXX) after this weekend's ASCO presentation.
The firm notes "Carfilzomib 003-A1 subgroup data presented at ASCO show a 15% ORR with a 10% lower boundary for the critical Vel-Rev dual refractory subset (v the previous abstract’s better-than-expected 21% ORR in dual refractory/intolerant subgrp disclosed May 16), confirming our concerns around its regulatory outlook. We continue to assume a late 2013 launch for carfilzomib with a potential CRL by its Jul 27 PDUFA."
The firm maintained a Hold rating and price target of $45.00
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 $44.93 yesterday, with a 52 week range of $27.17-$47.80.
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The firm notes "Carfilzomib 003-A1 subgroup data presented at ASCO show a 15% ORR with a 10% lower boundary for the critical Vel-Rev dual refractory subset (v the previous abstract’s better-than-expected 21% ORR in dual refractory/intolerant subgrp disclosed May 16), confirming our concerns around its regulatory outlook. We continue to assume a late 2013 launch for carfilzomib with a potential CRL by its Jul 27 PDUFA."
The firm maintained a Hold rating and price target of $45.00
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 $44.93 yesterday, with a 52 week range of $27.17-$47.80.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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