Jefferies Downgrades Onyx Pharmaceuticals (ONXX) to Hold

Jefferies downgraded Onyx Pharmaceuticals (NASDAQ: ONXX) from Buy to Hold but maintained their $45 price target.

The firm comments, "While the fundamentals remain unchanged, we believe ONXX shares are fairly valued following run-up on positive news and sentiment. On near-term data release, we believe upside to current valuation is limited as positive outcomes are unlikely from the MISSION trial, or may have modest impact from the Ph 3 regorafenib GIST trial."

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 $43.95 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Jefferies upgrades Five Below to Buy, sees path to TJX-like re-rating
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• Northcoast Downgrades Brinker Int'l (EAT) to Neutral