Onyx Pharmaceuticals Inc. (ONXX): Today's Featured Drugs Laggard

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Onyx Pharmaceuticals ( ONXX) pushed the Drugs industry lower today making it today's featured Drugs laggard. The industry as a whole closed the day down 1.8%. By the end of trading, Onyx Pharmaceuticals fell $8.89 (-7.2%) to $115.34 on heavy volume. Throughout the day, 9,989,943 shares of Onyx Pharmaceuticals exchanged hands as compared to its average daily volume of 2,051,800 shares. The stock ranged in price between $112.00-$118.19 after having opened the day at $115.89 as compared to the previous trading day's close of $124.23. Other companies within the Drugs industry that declined today were: Mast Therapeutics ( MSTX), down 43.8%, Cardium Therapeutics ( CXM), down 15.9%, MannKind Corporation ( MNKD), down 12.5% and Osiris Therapeutics ( OSIR), down 12.0%.

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. Onyx Pharmaceuticals has a market cap of $9.2 billion and is part of the health care sector. Shares are up 65.3% year to date as of the close of trading on Wednesday. Currently there are 6 analysts that rate Onyx Pharmaceuticals a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Onyx Pharmaceuticals 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 solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.

On the positive front, Cormedix ( CRMD), up 27.8%, GW Pharmaceuticals PLC ADR ( GWPH), up 16.9%, Accelerate Diagnostics ( AXDX), up 9.5% and Novavax ( NVAX), up 7.6%.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the drugs industry could consider SPDR S&P Pharmaceuticals ETF ( XPH) while those bearish on the drugs industry could consider ProShares UltraShort Nasdaq Biotech ( BIS).

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