Onyx Pharmaceuticals (NASDAQ: ONXX) had its target price trimmed by Jefferies Group from $103.00 to $96.00 in a research note issued to investors on Friday. The firm currently has a buy rating on the stock.
“ONXX reported in-line Q4 Kyprolis sales while guiding to higher 2013 OpEx on PIII expenses and full-year of Kyprolis mktg. Notably, management’s commentary on Kyprolis market dynamics remains positive, anticipating q/q demand growth in 2013 with increased news flow beginning Apr through YE13. We believe there’s potential near/mid-term positive inflection points for Kyprolis upside despite our lowered $96 PT on higher spend.,” the firm’s analyst commented.
Onyx Pharmaceuticals traded down 0.31% on Friday, hitting $77.63. Onyx Pharmaceuticals has a 52-week low of $35.73 and a 52-week high of $93.18. The stock’s 50-day moving average is currently $77.79. The company’s market cap is $5.240 billion.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a hold rating on shares of Onyx Pharmaceuticals in a research note to investors on Tuesday, February 12th. Separately, analysts at JMP Securities initiated coverage on shares of Onyx Pharmaceuticals in a research note to investors on Friday, February 8th. They set an outperform rating and a $100.00 price target on the stock. Finally, analysts at Robert W. Baird cut their price target on shares of Onyx Pharmaceuticals from $99.00 to $96.00 in a research note to investors on Wednesday, January 16th. They now have an outperform rating on the stock.
Sixteen analysts have rated the stock with a buy rating, two have assigned an overweight rating, and four have given a hold rating to the company’s stock. Onyx Pharmaceuticals currently has a consensus rating of buy and an average target price of $100.88.
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