NEW YORK (

TheStreet

) -- Shares of

Onyx Pharmaceuticals

(Nasdaq:

ONXX

) were gapping up Wednesday morning with an open price 14.2% higher than Tuesday's closing price. The stock closed at $36.02 Tuesday and opened today's trading at $41.13.

The average volume for Onyx has been 1.1 million shares per day over the past 30 days. Onyx has a market cap of $2.3 billion and is part of the

health care

sector and

drugs

industry. Shares are down 2.3% year to date as of the close of trading on Tuesday.

Onyx Pharmaceuticals, Inc., a biopharmaceutical company, engages in the development and commercialization of therapies that target the molecular mechanisms causing cancer the United States, Canada, and Europe.

TheStreet Ratings rates Onyx as a

hold

. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full

Onyx Ratings Report

.

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