From a recent Mad Money show: "I don't want you to sell this. Big pharma needs new drugs and Onyx has it. Onyx is a ticket to make money, not lose it."

From a recent Mad Money show: "I don't want you to sell this. Big pharma needs new drugs and Onyx has it. Onyx is a ticket to make money, not lose it."

Thapar and other analysts point to Onyx Pharmaceuticals (ONXX) as a potential target of Bayer. Onyx has a joint venture with the German pharmaceutical giant for Nexavar, which is used to treat kidney and liver cancers. "At some point, you could see Bayer wanting to control 100% of the assets," says Sustersic, who thinks that Bayer might pay as much as $65 per share. Nexavar is believed to have more upside, especially as it secures approval in other markets (it was recently given the green light by China as a liver-cancer treatment), and even more if it can be used for other cancers, including those of the breast, lungs and skin.

News of the Bristol-Meyers (BMY) offer to buy out ImClone (IMCL) deal triggered a flurry of option activity in Amgen (AMGN),
Onyx Pharmaceuticals (ONXX), and Amylin (AMLN) said option strategist Frederic Ruffy.

Buy - Price 34.75 on June 23
by Broadpoint Capital

CFO Greg Schafer resigned June 17 and will [depart] by Dec. 15...incrementally positive news for the stock (not a reflection on Schafer's ability), because we believe that it makes sense for new CEO Tony Coles to pick his own team....The most important piece of news, near term, [will be] announcement of Q208 Nexavar sales [for treating certain liver- and kidney-cancer patients] around July 30...We expect Nexavar sales will be significantly higher than most Street project[ions] and expect Onyx management will adjust its guidance for Nexavar sales for the year upward. Our 48 target appl[ies] a 30 times forward price/earnings multiple to our 2010 fully diluted EPS of $2.25. Market cap: $1.9 billion.

oral anticancer therapies used to prevent cancer cell proliferation and angiogenesis

Biotech Investors Playing It Safe
TheStreet.com's biotech specialist, Adam Feuerstein, gives the highlights from the BioCEO Conference and explains why biotech investors may want to stick with ETFs for a while.

Click here to watch the video.

Biotech Investors Playing It Safe
TheStreet.com's biotech specialist, Adam Feuerstein, gives the highlights from the BioCEO Conference and explains why biotech investors may want to stick with ETFs for a while.

Click here to watch the video.

The Cancer Drug to Watch in 2008
Onyx Pharma's CEO gives his take on what's in store for 2008, and why a Nexavar lung cancer trial will be the big stock-moving event this year.

Click here to watch the video.

POSSIBLE GROWTH

I am taking a beating

dead wood

not enough room under favorites

Lost too much money twice - never touch it again - just emoitional

Friedman Billings Ramsey Jim Reddoch downgraded Onyx to "Underperform" from "Market Perform," because its price had risen too high. The analyst also boosted his price target to $17 from $12.
In a research note, Reddoch warned that the liver cancer treatment market is still a small one with estimated U.S. sales of $187 million in 2010, up from the analyst's previous estimate of $72 million.
Nexavar also faces a threat from Sutent, a Pfizer Inc. drug that's currently approved for kidney cancer, Reddoch said. Nexavar received FDA-approval for kidney cancer in December 2005, and Sutent gained approval the next month. Sutent is currently in mid-stage clinical trials for liver cancer.

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