Onyx Pharmaceuticals, Inc. Message Board
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Just as it was getting ready to cross into positive territory at 1:30, apparently Merrill Lynch issued some cautious comments that knocked the price down.
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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. -
Given the large number of such trials, should we expect some read out anytime soon? Any such positive news would provide a key catalyst for the next leg of the move up. Right?
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I thought this is a serious forum where participants do not engage in chlildish and unecessary attacks. It is not even worth asking why did you characterize as "whinning" a simple factual statement regarding share price underperformance plus the expressed expectation that we should catch up (given all recent upward PT revisions)--which we did. Moreover, I was referring to formal statistical results from any ongoing trials regarding frontline use of Kyprolis. If you are telling me that I should follow the science by reading the MM blogs, then you have a lot to learn about science, pal.
Sentiment: Strong Buy
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The next catalyst could be positive data on Kyprolis earlier lines of MM. Any idea when we might see that?
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For a second day in a row we are underperforming the biotechnology indices--CELG and other stocks are making new highs. We should catch up, especially given all the post-earnings PT upward revisions.
Sentiment: Strong Buy
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What could be the next catalyst that might propel Onyx above $100 ? Are we likely to get a read out from on-going trials anytime soon?
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Hi Vin, Whenever I complained about the price uncer-performance the thing turned around--every single time. I also noted that every time you sold a small portion of your position, it went straight up. So my record is almost as perfect as your's.
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Net from Highlights of International MM Workshop webcast.
by bearofbleecker •Apr 5, 2013 6:41 PMBear, Sorry to ask this question again but are the results of the two studies by Landgren and Jakubowiak available?
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Thank you for the detailed report. Are the results of the two studies by Landgren and Jakubowiak available?
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Hi Bear,
Were you able to listen to the webcast of the session on Kyprolis? - Reply to
Proteasome Inhibitor Data Presentations at 14th International Myeloma Workshop
by johnpapas893 •Apr 2, 2013 11:28 AMWhat will propel the price towards the average analyst target of $102 is any news that might support Kyprolis' move to front-line treatment. Any chance that we might get that from the data presented in Japan?
Sentiment: Strong Buy
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Proteasome Inhibitor Data Presentations at 14th International Myeloma Workshop
by johnpapas893 •Apr 2, 2013 11:28 AMHi Bear,
I wonder if the strength today (with good volume) might be related to the data presentations in Japan. It could not be just the Cramer factor--although his endorsement yesterday was very strong.Sentiment: Strong Buy
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I understand that these daily price variations don't matter that much. Still, when I look at CELG it is up 48% since Dec 31 compared to 15% for ONXX. CELG is remarkably stable despite the fact that it has risen so far so fast. Also, all these insider sales of ONXX don't help. It would be nice to see some insider buys for a change. It would give some confidence to other investors. Finally, whenever I complain about ONXX's price behavior, it turns around.
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It is still very difficult to understand why this stock is susceptible to such wild price gyrations--in less than 10 minutes this morning it dropped more than $1. Is this due to lack of conviction on the part of buyers? Is it being manipulated by shorts? But then again the question is with such strong fundamentals why is it such an easy prey for the shorts?
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Any views on how important these data presentations might be?
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Any guesses as to what the next catalyst might be that will propel ONXX towards the mean analysts' price target of $102?
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We will probably need some additional good PII or PIII results to drive this higher. It seems that all the analysts' upward price and revenue revisions are not good enough to stem the short attacks and manipulation. Are there any results that might be reported in this quarter?
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Portfolio rebalancing by some fund is a plausible explanation. But then again, other biotechs are near their 52-week highs and do well on days like this. The question is why they are not susceptible to the same price pressures due to fund rebalancing. One characteristic of ONXX is that its price can move by more than $1 with just a few thousand shares traded. It seems to be the perfect stock to be manipulated by shorts. Where is the instutional support, given all the positive analyst comments and increasing PTs? Incidentally, just look at the daily and weakly charts--you can draw very clear straight lines connecting the high and low points.
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NBI +15.50 (+.96%), CELG +1.41 (+1.27%), AMGN +2.03 (+2.20%), ONXX -2.01 (-2.33%).
Let's hope that our time will come again.