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Best Call of 2013: Onyx Pharmaceuticals

Analysts continue to bless the shares and offer tempting price targets. In November, Goldman Sachs said shares were worth $130, citing higher sales of Kyprolis. Deutsche Bank thinks Amgen shares are worth $138. The bank believes the buyout of Onyx will add 20% to earnings per share annually beginning in 2016.

Shares of Amgen are up 29% in 2013. While the buyout of Onyx Pharmaceuticals was a lucrative reward for shareholders of the former company, investors should pour some of the profits back into Amgen, which has a clear path of profits and drug approvals that should reward shareholders for quite some time.

While I ended up being right that Onyx would get acquired, I think the acquirer, Amgen, is just as good of a pick for 2014.

At the time of publication, the author had no position in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of The Street or its editorial staff.

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