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Onyx Pharma cancer drug could also cure shares-Barron's

Sun Jun 22, 2008 3:58pm EDT

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NEW YORK, June 22 (Reuters) - Onyx Pharmaceuticals Inc's (ONXX.O) cancer drug has bright potential in treating several forms of the disease and could raise the biotech company's shares, according to a report on Sunday in Barron's.

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With sales of its drug Nexavar, now approved to treat kidney and liver cancer, expected to hit $1 billion next year, Barron's said one health-care investor is looking for earnings of $1.93 per share, and valuing the stock at $65 to $75 per share.

Onyx shares closed on Friday at $33.67. (Reporting by Martinne Geller, editing by Phil Berlowitz)

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