Seeking Alpha

OncoGenex gets a lift from Needham

  • OncoGenex Pharmaceuticals (OGXI) jumps 10% before the bell.
  • Needham's Chad Messer says that "while Xtandi and other prostate cancer agents in development may eventually erode chemotherapy use in prostate cancer, this concern is nothing new and [may not] have a material effect on the long-term value" of the shares.
  • OGXI upgraded to Strong Buy. Price target lifted to $30 (from $20) — so Messer is essentially looking for the shares to quadruple.
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