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ONYX Pharmaceuticals, Inc. Message Board

  • mcmillanryan1981 mcmillanryan1981 Jun 24, 2012 1:02 PM Flag

    What are the chances of seeing $55 or $60 in the near future?

    I would like to see the price go down to $55 or $60 (profit takers). I think that would be a good place to buy in and wait out future results. I missed the initial spike and had money tied up in other places.

    Is there anyone out there that has an opinion on this? I really lost my tail on KERX a few months ago. This just reminds me of that scenario so much. I'm considering steering clear all together. What does everyone else think?

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    • mcmillan,

      <I would like to see the price go down to $55 or $60 (profit takers). I think that would be a good place to buy in and wait out future results. I missed the initial spike and had money tied up in other places. Is there anyone out there that has an opinion on this? >

      Sorry to hear you missed the move up. Tough to say when to enter. I guess it depend if you think most of the previous short positions have been covered to remove much of the buying pressure. It also depends if you think there has been sufficient profit taking has already occurred to remove selling pressure, or if you think more is coming. taken place, or if more is coming. Good Luck.


      <I really lost my tail on KERX a few months ago. This just reminds me of that scenario so much. I'm considering steering clear all together. What does everyone else think?>


      There isn't anything similar between what happened to KERX are months ago, and what is occurring with ONXX now. The data from KERX's drug was poor and failed to meet its endpoints in trials, so the stock cratered. With ONXX, you are trying to figure out an entry point after the FDA advisory committee gave it unanimous vote favoring approval.

    • It will pull back a few dollars tomorrow and Tuesday. Look what ARNA did before it resumed higher. The current price is at or exceeds all analysts 12 month targets which were updated a few days ago. It's too late to buy now. Wait for a $10 pull back if you are interested.

 
ONXX
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