UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on Onyx Pharmaceuticals

In a report published Friday, Goldman Sachs Group reiterated its Buy rating on Onyx Pharmaceuticals

, and raised its price target from $88.00 to $98.00. Goldman Sachs noted, “We are highly encouraged by the results of our survey and are raising our above-consensus Kyprolis estimates, which drive our non-GAAP EPS estimates higher. Our survey points to high awareness of the drug (40% of US physicians have already prescribed), prescribing in academic and private practice settings, usage of the drug in the US across all lines of therapy (surprisingly including some first-line), the majority of dosing at labeled dose, no significant reimbursement issues and nothing new on the safety front.” Onyx Pharmaceuticals closed on Thursday at $85.87.