Onxx Pharmaceuticals (ONXX +7.6%) shares surge after BofA Merrill issues an upgrade to Buy and...

|By:, SA News Editor

Onxx Pharmaceuticals (ONXX +7.6%) shares surge after BofA Merrill issues an upgrade to Buy and raises its target price to $57 from $47, citing high expectations for Kyprolis. Physician feedback has turned significantly more supportive on Kyprolis efficacy, the firm says, expecting the trend to continue as experts gain experience and publish long-term follow-up results.