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Biotech / Medical : Biotech Short Candidates -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (656)	5/6/2004 1:00:02 PM
From: tuck	Read Replies (4) \| Respond to of 897

An analyst catches up to the market, and tries to get in front . . . >>10:33AM Onyx Pharma target raised to $66 from $40 at JMP (ONXX) 56.12 +0.83: JMP Securities maintains their Outperform on ONXX and raises their target to $66 from $40 following stronger than expected Q1 results; while the stock's valuation is hardly a bargain, firm believes that it is not out of line with other biotech co's with high-quality products in pivotal trials and near registration; firm views ONXX's lead compound BAY 43-9006 as one of the most exciting compounds in the collective pipeline of the biotech and pharma industries, and believes that the stock can continue to move upward as long as clinical data are good.<< So what if the jump by ONXX from the $40s seems related to Tarceva's success -- despite a minimal relationship between Tarceva and Bay 43-9006? Let's jump on the bandwagon! (Or more cynically, maybe they need to unload some shares) This recommendation has bolstered ONXX on an otherwise tough day, and BSCP suspects it will go to new highs on better days. Perhaps ONXX has an ASCO presence. By the time any upside from this upgrade has played out, that would be in play, so worth looking at. But meanwhile, getting out at $55.50, pretty much even after commissions. That is, made $14. Wheee! Cheers, Tuck