Onyx Stock Falls On Unusually High Volume (ONXX)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Onyx Pharmaceuticals (Nasdaq: ONXX) is trading at unusually high volume Wednesday with two million shares changing hands. It is currently at two times its average daily volume and trading down $2.44 (-2.9%) at $81 as of 11:21 a.m. ET.

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Onyx has a market cap of $5.56 billion and is part of the health care sector and drugs industry. Shares are up 10.5% 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 that cause cancer in the United States and internationally. The company has a P/E ratio of 71.4, 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. You can view the full Onyx Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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