Brean Capital Raises Onyx (ONXX) Price Target to $115
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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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Brean Capital today maintained a Buy rating on Onyx Pharmaceuticals (NASDAQ: ONXX) with a price target of $115.00 (from $105.00). The increased price target relates to greater confidence in Onyx's Proteasome franchise.
"After reviewing the early Phase 1/2 data for Kyprolis/Melphalan/Prednisone to be presented at ASCO, we are more confident in ONXX's ability to establish Kyprolis, and later Oprozomib, in the front line newly diagnosed multiple myeloma (NDMM) setting. We now have greater confidence in ONXX's proteasome franchise surpassing the $2.5B peak sales we currently forecast. We expect the CLARION study to establish Kyprolis' superiority over Velcade in NDMM with data in 2016," said analyst Gene Mack.
For an analyst ratings summary and ratings history on Onyx Pharmaceuticals (NASDAQ: ONXX) click here. For more ratings news on Onyx Pharmaceuticals click here.
Shares of Onyx Pharmaceuticals closed at $95.65 yesterday.
"After reviewing the early Phase 1/2 data for Kyprolis/Melphalan/Prednisone to be presented at ASCO, we are more confident in ONXX's ability to establish Kyprolis, and later Oprozomib, in the front line newly diagnosed multiple myeloma (NDMM) setting. We now have greater confidence in ONXX's proteasome franchise surpassing the $2.5B peak sales we currently forecast. We expect the CLARION study to establish Kyprolis' superiority over Velcade in NDMM with data in 2016," said analyst Gene Mack.
For an analyst ratings summary and ratings history on Onyx Pharmaceuticals (NASDAQ: ONXX) click here. For more ratings news on Onyx Pharmaceuticals click here.
Shares of Onyx Pharmaceuticals closed at $95.65 yesterday.
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