Canaccord Genuity Reiterates a 'Buy' on Onyx Pharmaceuticals (ONXX); Nexavar Margins Improve, Big Catalysts Approach
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Price: $124.70 --0%
Rating Summary:
9 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Onyx Pharmaceuticals (NASDAQ: ONXX) price target of $48.00.
Canaccord analyst, George Farmer, said, "In line with our estimates, management expects 2011 Nexavar revenues to hit the lower to mid range of the unchanged $975M to $1.25B guidance. Nexavar commercial margins continue to improve (shown herein), an underappreciated detail which we believe adds to its value proposition."
"Our $48 target is based on a DCF. On increased SG&A expenses, we increase our GAAP ’11 and ’12 LPS estimates to ($0.42) and ($2.46) from ($0.30) and ($2.31), respectively. Risks include changes in competitive landscapes, clinical trial failures, and regulatory setbacks."
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 $39.30 yesterday.
Canaccord analyst, George Farmer, said, "In line with our estimates, management expects 2011 Nexavar revenues to hit the lower to mid range of the unchanged $975M to $1.25B guidance. Nexavar commercial margins continue to improve (shown herein), an underappreciated detail which we believe adds to its value proposition."
"Our $48 target is based on a DCF. On increased SG&A expenses, we increase our GAAP ’11 and ’12 LPS estimates to ($0.42) and ($2.46) from ($0.30) and ($2.31), respectively. Risks include changes in competitive landscapes, clinical trial failures, and regulatory setbacks."
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 $39.30 yesterday.
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