Goldman Sachs Resumes Coverage On Onyx Pharmaceuticals (ONXX) at Neutral

Goldman Sachs resumes coverage on Onyx Pharmaceuticals (NASDAQ: ONXX) with a Neutral rating and $40 price target.

The firm has a measured view of Carfilzomib (CFZ) obtaining accelerated approval in fist quarter of 2012, although they are positive on eventual approval of the drug in 2nd-half of 2013 or 1st-half of 2014. On Nexavar, while the firm expects positive data from two ongoing trials aimed to increase peak sales potential, a number of competing drugs in late-stage trials will post data in the 2nd-half of 2011-2012.

For more ratings news on Onyx Pharmaceuticals click here and for the rating history of Onyx Pharmaceuticals click here.

Shares of Onyx Pharmaceuticals closed at $36.58 yesterday.

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