UPDATE: Jefferies Raises PT to $104 on ONYX Pharmaceuticals on Kyprolis Survey Data
Jefferies maintained ONYX Pharmaceuticals (NASDAQ: ONXX) with a Buy rating and raised the price target from $96.00 to $104.00.
Jefferies analyst Biren Amin commented, "Based on recent events incl frontline data and NCCN Compendium listing, and Pomalyst launch, we conducted a follow-up survey in myeloma, and observed 1st/2nd line Kyprolis use could be significantly higher than consensus. We raise our Kyprolis sales projections with a new $104 PT (v $96 previously)."
ONYX Pharmaceuticals closed at $86.61 on Monday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.