Goldman Sachs Removes Onyx Pharmaceuticals (ONXX) from Conviction Buy List
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Price: $93.03 +0.13%
Rating Summary:
20 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
20 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade ONXX Now!
Goldman Sachs removed Onyx Pharmaceuticals (NASDAQ: ONXX) from its Conviction Buy List but maintained a Buy rating and raised its price target to $52 from $47.
The firm sees greater upside in Volcano (Nasdaq: VOLC), which was added to the Conviction Buy List. The analyst notes: 1) VOLC has greater upside (28%) and (2) there is lower upside to our price target for ONXX (16%), which we still consider attractive.
Goldman notes the company is closing in on two key catalysts. They believe expectations for Nexavar Phase 3 data for lung cancer (anticipated this quarter) and potential early FDA approval of CFZ for blood cancer (July 27) remain low.
Goldman bumped FY12 EPS from ($2.82) to ($2.77), FY13 down from ($2.26) to ($3.18) and FY14 down from ($1.12) to ($1.92).
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 $45.00 yesterday, with a 52 week range of $27.17-$47.80.
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The firm sees greater upside in Volcano (Nasdaq: VOLC), which was added to the Conviction Buy List. The analyst notes: 1) VOLC has greater upside (28%) and (2) there is lower upside to our price target for ONXX (16%), which we still consider attractive.
Goldman notes the company is closing in on two key catalysts. They believe expectations for Nexavar Phase 3 data for lung cancer (anticipated this quarter) and potential early FDA approval of CFZ for blood cancer (July 27) remain low.
Goldman bumped FY12 EPS from ($2.82) to ($2.77), FY13 down from ($2.26) to ($3.18) and FY14 down from ($1.12) to ($1.92).
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 $45.00 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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