Onyx Pharmaceuticals (NASDAQ:ONXX) was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. They currently have a $132.00 target price on the stock, up from their previous target price of $104.00. Jefferies Group’s price target indicates a potential downside of 1.79% from the company’s current price.
The analysts wrote, “Given the M&A interest in ONXX we are downgrading to Hold on valuation and raising our PT to $132 (v. $104 prev), which incorporates a lower discount rate to reflect the potential M&A transaction and also includes outer year royalties from palbociclib. We believe upside from current valuation may be limited given the likelihood of a transaction closing between ~$140-145/share.”
Several other analysts have also recently commented on the stock. Analysts at Robert W. Baird downgraded shares of Onyx Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $129.00 price target on the stock. Separately, analysts at Deutsche Bank downgraded shares of Onyx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note to investors on Monday, July 22nd. They now have a $140.00 price target on the stock, up previously from $110.00. Finally, analysts at UBS AG raised their price target on shares of Onyx Pharmaceuticals from $110.00 to $150.00 in a research note to investors on Monday, July 15th.
Onyx Pharmaceuticals (NASDAQ:ONXX) opened at 134.40 on Friday. Onyx Pharmaceuticals has a 52-week low of $66.37 and a 52-week high of $136.87. The stock’s 50-day moving average is currently $116.2. The company’s market cap is $9.776 billion.
Onyx Pharmaceuticals (NASDAQ:ONXX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.28. The company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $134.36 million. During the same quarter in the previous year, the company posted ($0.68) earnings per share. The company’s revenue for the quarter was up 102.0% on a year-over-year basis. Analysts expect that Onyx Pharmaceuticals will post $-1.66 EPS for the current fiscal year.
In other Onyx Pharmaceuticals news, Director Corinne H. Nevinny sold 1,500 shares of the company’s stock in a transaction that occured on Tuesday, July 30th. The shares were sold at an average price of $131.26, for a total value of $196,890.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Onyx Pharmaceuticals, Inc (NASDAQ:ONXX) is a biopharmaceutical company.
