Onyx Pharmaceuticals Inc. (ONXX), which surged to a record last week, is poised to hand shareholders 40 percent more after a regulatory panel’s support for a cancer treatment heightened its allure as a takeover target. Stephen Willey, an analyst at Stifel Nicolaus in New York, said Onyx could be worth $6 billion to an acquirer, more than 40 percent higher than its current market value of $4.2 billion, based on the sales multiples paid by acquirers in recent oncology deals. “There are not many other companies out there like it. For investment bankers, if they pitch to their clients about a possible target, for sure Onyx is on every single one of their lists.”
I may regret having taken out 50% of my position. But I had other reasons. The timing was perfect for something I have had my eyes on for some time. I bought an ancient cypress swamp in Florida. Yes, just like the expression.