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ONYX Pharmaceuticals, Inc. Message Board

  • johnpapas893 johnpapas893 May 20, 2013 5:24 PM Flag

    Brean Capital

    Bear, Kot, and Vin
    Any views on the impact of ASCO--are we likely to go higher before then as the abstracts are being digested?

    Brean Capital today maintained a Buy rating on Onyx Pharmaceuticals (NASDAQ: ONXX) with a price target of $115.00 (from $105.00). The increased price target relates to greater confidence in Onyx's Proteasome franchise.

    "After reviewing the early Phase 1/2 data for Kyprolis/Melphalan/Prednisone to be presented at ASCO, we are more confident in ONXX's ability to establish Kyprolis, and later Oprozomib, in the front line newly diagnosed multiple myeloma (NDMM) setting. We now have greater confidence in ONXX's proteasome franchise surpassing the $2.5B peak sales we currently forecast. We expect the CLARION study to establish Kyprolis' superiority over Velcade in NDMM with data in 2016," said analyst Gene Mack.

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    • John, the next leg up will probably takes us to $110-$112 area. Will ASCO serves as catalyst is depends not only on ONXX presentation, but also on other companies presentation. In any case, as long as the sales are growing and ONXX moves closer to profitability the share price will rise and in 1 year we'll get $150 and, maybe $200 in two. However, I think pretty soon ONXX going to aquire another privately held bio for 200m+, specializing in lung or other cancer and all "positive cash flow" will flow to research there. Maybe, in the long term, it is not bad thing,- additional sucsesful drug might add few B to valuation (in 2+ years), but in the short term the price may suffer.

    • John, thanks for the Brean Capital summary. It is pretty straight-forward so I don't know what you want me or others to add. Let's see what the ASCO data says and talk about it later.

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