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Onyx Pharmaceuticals Makes a Move: Down 2.8%

Published on Thu, 02/28/2013 - 13:16
By Peter Chu

Onyx Pharmaceuticals (NASDAQ:ONXX) is a company whose shares are active, trading 2.8% lower to $75.22. The S&P is trading higher by 0.3% to 1,520 and the Dow is trading fractionally higher to 14,096.

Onyx Pharmaceuticals, Inc. discovers and develops novel therapeutics based upon the genetics of human disease, with an emphasis on cancer. The Company focuses on defining the function of certain mutated genes which are known to cause cancer, and on developing therapies to reverse the effects of the mutation or to kill the cancer cell.

In the past 52 weeks, shares of Onyx Pharmaceuticals have traded between a low of $27.17 and a high of $93.18 and are now at $75.22, which is 177% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has declined 0.3%.

Onyx Pharmaceuticals (NASDAQ:ONXX) has potential upside of 34.7% based on a current price of $75.22 and analysts' consensus price target of $101.33. The stock should find resistance at its 50-day moving average (MA) of $77.87, as well as support at its 200-day MA of $71.94.

By Peter Chu
pchu@fnno.com