This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Health Winners & Losers: Onyx

Biotech earnings were mixed midweek, but sector indices held up despite a few sagging stocks.

Onyx (ONXX) shares closed down $1.48, or 3.7%, at $38.36 on Wednesday. The company reported its quarterly results Tuedsay after the close, beating on EPS by a penny and surpassing revenue expectations. However, Wall Street viewed the company's new Nexavar sales guidance as underwhelming. The company guided to sales of $660 million to $675 million, up from $600 million to $650 million. Wall Street analysts had expected anywhere from between $650 and $700 million.

Meanwhile, BioMarin (BMRN) gave up $1.60, or 5.0%, to $30.10 and analysts dropped their price targets for the stock a day after it presented second quarter results. BioMarin's phenylketonuria (PKU) drug Kuvan registered $12 million in second-quarter sales, falling short of the $14.8 million consensus. And BioMarin scaled back the top end of its guidance for Kuva revenue by $5 million to $65 million.

On the postive side, sales of its Naglazyme rose 68% to $35.1 million, surpassing expectations for $29.7 million, and the company boosted overall revenue expectations for 2008.

Another stock in the red on midweek, Medarex (MEDX) reported a widened quarterly loss and revenue below targets. The company reported a loss of $53.1 million, or 42 cents a share, vs. a loss of 32 cents a share a year prior. Factoring out one time charges, the company said it lost 34 cents a share for the quarter. Analysts polled by Thomson Financial expected a loss of 35 cents per share on revenue of $12.5 million.

Its shares gave up 92 cents a share, or 9.3%, to $9.02 on Wednesday.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs