NEW YORK ( TheStreet) -- Shares of Onyx Pharmaceuticals (Nasdaq: ONXX) have taken a tremendous swing upward. The stock is trading at $61.63 as of 9:30 a.m. ET, 38.3% above Wednesday's closing price of $44.58. Volume is at 4.8 million, 3.4 times the daily average of 1.4 million.

Onyx has a market cap of $2.85 billion and is part of the health care sector and drugs industry. Shares are up 0.7% year to date as of the close of trading on Wednesday.

Onyx Pharmaceuticals, Inc., a biopharmaceutical company, engages in the development and commercialization of therapies that target the molecular mechanisms that cause cancer in the United States and internationally. The company has a P/E ratio of 40.2, below the average drugs industry P/E ratio of 40.6 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Onyx as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and feeble growth in the company's earnings per share. You can view the full Onyx Ratings Report.

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