Barclays Raises Price Target on Onyx Pharmaceuticals (ONXX); Kyprolis Gets Surprisingly Supportive Commentary
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Price: $88.80 -1.31%
Rating Summary:
20 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
20 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
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Barclays maintains an 'Equalweight' on Onyx Pharmaceuticals (NASDAQ: ONXX) price target of $51.00 (from $44.00).
Analyst, Ying Huang, bumps his Kyprolis launch to 2012 from 2014 after the ODAC's surprisingly positive commentary. Although the FDA was more concerned about some adverse affects, including serious cardiovascular events, the majority of panelists were comfortable with the risk/benefit profile. As well, a senior FDA official, Dr. Pazdur, surprised by issuing uncharacteristically positive commentary, and Barclays sees that as increased likelihood Kyprolis gets approved.
Tsao maintains an Equalweight rating, but raises his price target, saying new optimism gets priced in. He lowers FY12 loss from -2.73 to -1.96 and FY13 from -2.83 to -0.49.
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 $44.58 yesterday, with a 52 week range of $27.17-$47.80.
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Analyst, Ying Huang, bumps his Kyprolis launch to 2012 from 2014 after the ODAC's surprisingly positive commentary. Although the FDA was more concerned about some adverse affects, including serious cardiovascular events, the majority of panelists were comfortable with the risk/benefit profile. As well, a senior FDA official, Dr. Pazdur, surprised by issuing uncharacteristically positive commentary, and Barclays sees that as increased likelihood Kyprolis gets approved.
Tsao maintains an Equalweight rating, but raises his price target, saying new optimism gets priced in. He lowers FY12 loss from -2.73 to -1.96 and FY13 from -2.83 to -0.49.
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 $44.58 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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