Bernstein Initiates Coverage on Onyx Pharmaceuticals (ONXX)
Equities research analysts at Bernstein started coverage on shares of Onyx Pharmaceuticals (NASDAQ: ONXX) in a research note issued to investors on Thursday. The firm set an “outperform” rating and a $74.00 price target on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird reiterated a “neutral” rating on shares of Onyx Pharmaceuticals in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Onyx Pharmaceuticals in a research note to investors on Friday, May 4th. They now have a $45.00 price target on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Onyx Pharmaceuticals from $40.00 to $44.00 in a research note to investors on Thursday, May 3rd. They now have an “equal weight” rating on the stock.
Shares of Onyx Pharmaceuticals traded up 1.23% during mid-day trading on Thursday, hitting $46.98. Onyx Pharmaceuticals has a one year low of $27.17 and a one year high of $47.80. The company has a market cap of $3.024 billion and a P/E ratio of 43.01.
Onyx Pharmaceuticals last issued its quarterly earnings data on Wednesday, May 2nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by $0.08. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts predict that Onyx Pharmaceuticals will post $-0.61 earnings per share next quarter.
Onyx Pharmaceuticals, Inc. (Onyx) is a biopharmaceutical company. The Company is developing therapies that target the molecular mechanisms that cause cancer.