Onyx Pharmaceuticals (ONXX) May Have Untapped Opportunity in Frontline Multiple Myeloma
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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
Trade ONXX Now!
Investors could be under appreciating Onyx Pharmaceuticals' (NASDAQ: ONXX) opportunity in off-label use in newly diagnosed (or frontline) multiple myeloma (NDMM), according to analyst Biren Amin of Jefferies.
"Given the encouraging data from investigator-led studies exploring Kyprolis in newly diagnosed multiple myeloma (NDMM) presented at this year’s ASH conference in addition to other data in NDMM, the outlook for compendium listings, particularly in the key National Comprehensive Cancer Network (NCCN) Compendium, appears favorable," said Amin.
"We believe data to-date for Kyprolis in NDMM are sufficient to meet the NCCN requirements based on the scope/depth of data supporting current Compendium listings in NDMM for certain Revlimid and Velcade combinations," continued Amin. He thinks ONXX may pursue a listing in 2013.
Jefferies has a Buy rating on Onyx Pharmaceuticals (NASDAQ: ONXX) with a price target of $103.00.
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 $80.24 yesterday, with a 52 week range of $35.73-$93.18.
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"Given the encouraging data from investigator-led studies exploring Kyprolis in newly diagnosed multiple myeloma (NDMM) presented at this year’s ASH conference in addition to other data in NDMM, the outlook for compendium listings, particularly in the key National Comprehensive Cancer Network (NCCN) Compendium, appears favorable," said Amin.
"We believe data to-date for Kyprolis in NDMM are sufficient to meet the NCCN requirements based on the scope/depth of data supporting current Compendium listings in NDMM for certain Revlimid and Velcade combinations," continued Amin. He thinks ONXX may pursue a listing in 2013.
Jefferies has a Buy rating on Onyx Pharmaceuticals (NASDAQ: ONXX) with a price target of $103.00.
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 $80.24 yesterday, with a 52 week range of $35.73-$93.18.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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