Shares of Pharmacyclics PCYC have rallied about 7 percent Monday following news Onyx Pharma ONXX rejected a $120/share cash bid from Amgen AMGN.
RBC Capital's Michael Yee called Pharmacyclics the most attractive target following the Onyx news. The analyst cited the upcoming expected approval in relapsed and/or refractory mantle cell lymphoma, solid pivotal data and a positive outcome for its chronic lymphocytic leukemia candidate.
Yee maintains an Outperform rating and a$100 price target on shares of Pharmacyclics.
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