Deutsche Bank Reiterates Buy Rating, $105 PT on Onyx Pharmaceuticals on Updated Guidelines

In a report published Monday, Deutsche Bank reiterated its Buy rating and $105.00 price target on Onyx Pharmaceuticals ONXX. Deutsche Bank noted, “Guidelines updated on Friday add Kyprolis in combo with Revlimid & Dex as an option for patients who are transplant candidates with a category 2A classification (low-evidence but uniform NCCN consensus). It has been included as an ‘other regimen.' We are not sure what differences there are in other vs. preferred for ease of reimbursement, but we think that inclusion as other is definitely a positive first step.” Onyx Pharmaceuticals closed on Friday at $85.65.