J.P. Morgan Maintains Overweight on Onyx Pharmaceuticals

J.P. Morgan is out with its report today on Onyx Pharmaceuticals ONXX, maintaining Overweight. In its report, J.P. Morgan writes, "We have an OW rating on ONXX based on attractive growth driven by the company's existing and late-stage product portfolio. The company has an established oncology product in Nexavar (renal and liver cancer), the main value contributor, that has significant growth opportunities ex-US and with late stage initiatives to expand into multiple indications (NSCLC, thyroid and breast cancer)." J.P. Morgan maintains $44 PT on ONXX. Shares of ONXX closed Wednesday at $30.37, down 3.71% from Tuesday's close.