Baird Reiterates an 'Outperform' on Onyx Pharmaceuticals (ONXX); FDA approval of Kyprolis and Increased Takeover Chatter

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Baird reiterates an 'Outperform' on Onyx Pharmaceuticals (NASDAQ: ONXX), new price target of $80.00.

Late last Friday, analyst, Christopher Raymond, said, he remains a buyer following the earlier-than-expected FDA approval of Kyprolis in relapsed/refractory multiple myeloma. His checks indicated strong pent up Kyprolis demand, and thinks the stock can work higher near-term as this launch unfolds. Combining this with what he believes will be increased takeout chatter in light of the approval and the positive Nexavar competitive update, we like ONXX shares into the $80-range."

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 $76.38 yesterday, with a 52 week range of $27.17-$79.20.

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Robert W Baird

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