UPDATE: Rodman & Renshaw Raises PT to $73 on Onyx Pharmaceuticals on Favorable Kyprolis Panel

Rodman & Renshaw reiterates its Outperform rating on Onyx Pharmaceuticals

and raises its rice target from $57 to $73. Rodman & Renshaw notes, "The carfilzomib (Kyprolis) ODAC panel voted overwhelmingly in favor of recommending the drug for approval, removing, in our view, most, if not all, regulatory risk with the drug's NDA ahead of its July 27th PDUFA date." ONXX closed at $44.58 on Wednesday.