Baird Reiterates a 'Neutral' on Onyx Pharmaceuticals (ONXX); Nexavar Miss Not Real Issue; Kyprolis Remains Focus

Baird reiterates a 'Neutral' on Onyx Pharmaceuticals (NASDAQ: ONXX) price target of $41.00.

Analyst, Christopher Raymond, said, "Reiterate rating and price target after today's news that Nexavar missed its Phase III NSCLC primary endpoint. Although we think this result came as expected to most - we viewed it as a nice call option - we do think shares could come under light pressure today as some bulls may have been highlighting this event. However, as the story remains accelerated approval of Kyprolis - which we continue to view as high-risk - we still prefer the sidelines."

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 $42.82 yesterday.

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