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ONYX Pharmaceuticals, AŞ Message Board

  • johnpapas893 johnpapas893 Oct 11, 2012 8:49 AM Flag

    Canaccord Genuity assumes coverage on Onyx Pharmaceuticals (NASDAQ: ONXX) with a Buy. PT $105.00.

    UPDATE: Canaccord Genuity Assumes Onyx Pharmaceuticals (ONXX) at Buy
    6:48 AM ET, 10/11/2012 - Street Insider

    (Updated - October 11, 20128:36 AM EDT)

    Canaccord Genuity assumes coverage on Onyx Pharmaceuticals (NASDAQ: ONXX) with a Buy. PT $105.00.

    "The key value driver is Kyprolis, a wholly-owned proteasome inhibitor (PI), recently approved in the U.S. for relapsed/refractory multiple myeloma (RRMM)," analyst Salveen Richter comments, "Our physician feedback suggests Kyprolis is seeing rapid uptake in its ~11 weeks since launch, with decent off-label administration (combination therapy; earlier-line setting and higher doses). We model for Kyprolis peak sales of $2.1B in 2020, with $10.4M in Q3 and $39.7M in 2012 (vs. consensus of $5.5M and $22.2M, respectively). Nexavar ($1B in FY12E revenue) and Stivarga, partnered with Bayer, provide a solid stream of revenue, with upside potential. The next key catalysts are Q3 EPS, P3 DECISION data (Nexavar in thyroid cancer in Q4), P1/2 oprozomib data at ASH (Dec. 9-11) and ASPIRE data (see below; interim analysis in H1/13)."

    Sentiment: Strong Buy

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    • "We model for Kyprolis peak sales of $2.1B in 2020, with $10.4M in Q3 and $39.7M in 2012 (vs. consensus of $5.5M and $22.2M, respectively). Nexavar ($1B in FY12E revenue) and Stivarga, partnered with Bayer, provide a solid stream of revenue, with upside potential. The next key catalysts are Q3 EPS, P3 DECISION data (Nexavar in thyroid cancer in Q4), P1/2 oprozomib data at ASH (Dec. 9-11) and ASPIRE data (see below; interim analysis in H1/13)."

      Hard to accept that if all of this happens the SP is constrained as they project. What is missing?

      • 1 Reply to nidan7500
      • If I recall correctly, when Nexavar liver trials were unexpectedly halted early on positive results, stock climbed from $13 to $26 in a single day on 60+ mil volume. This was around Feb. 2007. By Dec. 2007 it had reached around $55+ as potential for Nexavar became more clearer.

        In the coming days as revenue potential from Kyprolis is confirmed, this will go higher.

        Sentiment: Strong Buy