Onyx Pharmaceuticals Downgraded by Leerink Swann to “Market Perform” (ONXX)

Onyx Pharmaceuticals (NASDAQ:ONXX) was downgraded by analysts at Leerink Swann from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, Analyst Ratings.Net reports. They currently have a GBX 140 ($2.17) price objective on the stock. The analysts noted that the move was a valuation call.

Onyx Pharmaceuticals (NASDAQ:ONXX) traded down 0.94% on Monday, hitting $126.01. Onyx Pharmaceuticals has a 1-year low of $66.37 and a 1-year high of $136.87. The stock’s 50-day moving average is currently $123.5. The company’s market cap is $9.192 billion. Onyx Pharmaceuticals also was the target of unusually large options trading activity on Friday. Stock traders bought 31,332 call options on the stock, Analyst Ratings Network reports.This represents an increase of approximately 219% compared to the typical volume of 9,823 call options.

Onyx Pharmaceuticals (NASDAQ:ONXX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.02. The company had revenue of $153.00 million for the quarter, compared to the consensus estimate of $151.73 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 110.5% on a year-over-year basis. Analysts expect that Onyx Pharmaceuticals will post $-1.62 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on ONXX. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Onyx Pharmaceuticals in a research note to investors on Friday. Separately, analysts at BMO Capital Markets downgraded shares of Onyx Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. They now have a $143.00 price target on the stock, down previously from $144.00. Finally, analysts at Jefferies Group downgraded shares of Onyx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note to investors on Friday, August 2nd. They now have a $132.00 price target on the stock, up previously from $104.00.

Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Onyx Pharmaceuticals presently has an average rating of “Hold” and an average target price of $123.36.

In other Onyx Pharmaceuticals news, EVP Suzanne Shema unloaded 4,052 shares of the stock on the open market in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.86, for a total transaction of $534,296.72. Following the sale, the executive vice president now directly owns 34,618 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Onyx Pharmaceuticals, Inc (NASDAQ:ONXX) is a biopharmaceutical company.