Deutsche Bank Starts Onyx Pharmaceuticals (ONXX) at Buy; Kyprolis Has Blockbuster Potential

Deutsche Bank initiates coverage on Onyx Pharmaceuticals (NASDAQ: ONXX) with a Buy. PT $58.00.

Deutsche analyst said, "Onyx is a mid-cap biotech focused on developing oncology therapeutics. In collaboration with Bayer, it markets Nexavar (>$1B) for liver & kidney cancer. Behind Nexavar, Onyx’s Kyprolis is being evaluated in several lines of myeloma. Based on our survey, we estimate $1.5B in peak Kyprolis sales. We also view Onyx as an attractive M&A asset."

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 $44.58 yesterday.

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