Morgan Stanley Reiterates Equal-Weight Rating on Onyx Pharmaceuticals on Key Endorsement
In a report published Monday, Morgan Stanley reiterated its Equal-Weight rating on Onyx Pharmaceuticals (NASDAQ: ONXX).
Morgan Stanley noted, “Addition of Kyprolis to National Comprehensive Cancer Network or NCCN treatment guidelines for newly diagnosed myeloma patients undergoing stem cell transplant is an expected positive. Front line use is largely upside to MSe/consensus and should allay concerns about competitive pressures from Celgene's Pomalyst. Moreover, guideline inclusion will ease frontline reimbursement and create an additional source of growth in the coming quarters.”
Onyx Pharmaceuticals closed on Friday at $85.65.
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