Okay, if you say so. But I can't find any downgrades, so I'm disinclined to run. The fact is that, like many of the hot biotechs, ONXX got hit with selling by those who wanted to lock in their gains at the 2012 tax rates. Some of these are now sitting on the sideline wondering if there will be more selling, which will give them a better entry point, but slowly facing the reality that perhaps most of the profit taking is over. In any event, you can expect this stock to surge at the tail end of 2012 and the beginning of 2013. I think that those who bailed will regret waiting to buy back in.
Of course, if you really believe that ONXX is going below 50 soon, the options market makers will sell you an Jan13 option on that for a quarter ... which is probably a bit steep, but hey, these guys have to make a living.