Morgan Stanley Raises Price Target on Onyx Pharmaceuticals (ONXX)
Research analysts at Morgan Stanley (NYSE: MS) boosted their target price on shares of Onyx Pharmaceuticals (NASDAQ: ONXX) to $39.00 in a report released on Thursday. The firm currently has an “underweight” rating on the stock.
Onyx Pharmaceuticals opened at 42.67 on Thursday. Onyx Pharmaceuticals has a 1-year low of $27.17 and a 1-year high of $47.80. The company has a market cap of $2.718 billion and a price-to-earnings ratio of 39.55.
The company last announced its quarterly results on Wednesday, May 2nd. It reported ($0.68) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.60) EPS by $0.08. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts expect that Onyx Pharmaceuticals will post $-0.63 EPS next quarter.
A number of other firms have also recently commented on ONXX. Analysts at Goldman Sachs (NYSE: GS) set a $52.00 price target on shares of Onyx Pharmaceuticals in a research note to investors on Thursday. They now have a “buy” rating on the stock. They also removed the stock from their conviction buy list on a valuation call. Separately, analysts at Barclays Capital (NYSE: BCS) reiterated an “equal weight” rating on shares of Onyx Pharmaceuticals in a research note to investors on Monday, March 26th. They now have a $4.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Onyx Pharmaceuticals in a research note to investors on Friday, March 16th. They now have a $39.00 price target on the stock.
Onyx Pharmaceuticals, Inc. (Onyx) is a biopharmaceutical company engaged in developing therapies that target the molecular mechanisms that cause cancer.