No, actually the rumored price offered by Mercedes is $6,300. Hold on to your shares. You will be very rich very soon. Any other buyout rumors?
Would you please interpret the numbers provided by FINRA. It seems to me that many of the other stocks on the list have similarly high short ratios. Have YELP's ratios shown any significant variation over time?
I agree. At least $150 after Thanksgiving, $350 by Christmas, $500 by New Year, and possibly over $1,000 by early spring.
Wnen the Washingon Post editorial page publishes an article like this, then you know ther will be more trouble ahead.
"With around 106% of the float owned by institutions, there aren't a ton of free-trading shares to go around."
Where did the author of the article get this number from?
I was also a little surprised and disappointed. Given all the recent analyst valuations, I really thought we would get something above $135. The uncertainty related to FOCUS was a factor although I still feel that ASPIRE is far more important and more likely to succeed (the design of FOCUS is problematic, especially if patients in the control arm have access to Pomalyst). Still we did fine--my average was around $64.
I gather you are still positive on SNTA. Any other recommendations? CLDX has already moved a lot.
Could someone explain how a $125/share translates into $10.5 billion with73.34 million total outstanding shares and a balance sheet that includes $750 cash and $180 million debt?
What do you think will be the price of Onyx if: (i) ASPIRE is positive (quite likely); and (ii) Oprozomib succeeds in Ph II-III studies?
We might suffer in the short-run, but we will be much better off in the long-run if management does not capitulate and accept a $120 offer from Amgen.
August 19, 2013 5:17 PM EDT
In a 13D filing on Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX), hedge fund OZ Management LP disclosed a 2.04%, or 1,496,345 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending June 30, 2013.
August 19, 2013 4:52 PM EDT
Onyx Pharmaceuticals (NASDAQ: ONXX) stock declined recently on reports that potential suitor Amgen (Nasdaq: AMGN) may delay its bid. Analyst Gene Mack of Brean thinks the sell-off is a buying opportunity since, in his view, Amgen's $130 rumored bid does not include the potential for Oprozomib.
"We believe the overall market is still confident that a deal will take place," said Mack.
"Prior to ONXX 2Q13 Results conference call, we spoke to several holders asking them if they would rather delay until ASPIRE data readout before accepting an AMGN bid . . . The overwhelming reaction to our question from ONXX holders was that they wanted to take the bid now since most felt positive ASPIRE data was baked into the $130 share price. We argue that $130 DOES NOT reflect the potential for Oprozomib," he said.
Brean Capital today maintained a Buy rating on Onyx Pharmaceuticals (NASDAQ: ONXX) with a price target of $160.00.
Amgen (AMGN), Onyx (ONXX) Deal Will Go Through Pending New Kyprolis Data
3:09 PM ET, 08/19/2013 - Street Insider
Onyx Pharmaceuticals (Nasdaq: ONXX) is lower Monday amid continued speculation over how quickly Amgen (Nasdaq: AMGN) might pursue a deal. Amgen has been apprehensive on moving forward until it gets more information on the latest Kyprolis trial.
ISI analyst Mark Schoenebaum said in a conferee call today that Onyx might have aggregated Kyprolis survival data and could only have access to safety data. He thinks Amgen will be more disciplined on price and due diligence for Onyx, while still wanting to see aggregate event rate data for Kyprolis.
Onyx's ASPIRE Phase 3 next interim analysis report might appear at the same time as its Focus Phase 2, which is slated to be out in the first-half of next year, Schoenebaum said.
Amgen has wanted an anticancer drug for at least a decade. Currently, the pharma has cancer drugs, but not an antitumor drug.
Schoenebaum thinks a deal will eventually go through, but there is just a lot of posturing going on.
Shares of Onyx are down about 4.2 percent.
theflyonthewall 14:59 EDT
Baird believes a Onyx Pharmaceuticals and Amgen deal gets done Baird said they find it hard to believe that Amgen (AMGN) is walking away from a deal with Onyx (ONXX) just because FOCUS did not hit on its interim analysis. The firm still believes a deal gets done and at at levels higher than AMGN’s initial $120 per share offer.