Zacks Analyst Blog Highlights: Onyx Pharmaceuticals, Pfizer, Wyeth and Wipro.
CHICAGO--Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Onyx Pharmaceuticals (Nasdaq: ONXX), Pfizer (NYSE: PFE), Wyeth (NYSE: WYE) and Wipro (NYSE: WIT).
See the latest posts to the Analyst Blog by visiting: http://at.zacks.com/?id=2673
Here are highlights from Thursday's Analyst Blog:
Big on Onyx's Nexavar
Onyx Pharmaceuticals (Nasdaq: ONXX) delivered strong financial performance of Nexavar in 3Q07 in spite of heavy competition in the kidney cancer market from Pfizer (NYSE: PFE) and Wyeth (NYSE: WYE). We are optimistic about the potential of oncology candidate Nexavar (sorafenib). We believe Nexavar sales will continue to grow over the next several years since the label has expanded to liver cancer. Label expansion into other cancer indications are under way. Nexavar has the potential to become a blockbuster for Onyx.
Nexavar sales continued to grow in 3Q07 in spite of heavy competition from Pfizer's Sutent and Wyeth's new drug Torisel for kidney cancer indications. Total Nexavar sales came in at $104.6 million, up 130% from $45.4 million in 3Q06. US sales increased to $41 million in 3Q07 from $28.4 million in 3Q06, up 44.4%. International sales reached $63.6 million, up 274% from $17 million in 3Q06.
EU and the US approved Nexavar for 1st line treatment of liver cancer in 4Q07. Other international filing is underway. We believe Nexavar sales will be further boosted in 2008 and beyond due to this new indication. We model sales of Nexavar will reach $1 billion in 2010. The stock's current price is attractive; therefore, we upgrade Onyx shares to Buy from Hold with a price target of $64 per share.
Expect In-Line Wipro Earnings
We expect Wipro (NYSE: WIT) to report an in-line 3Q08. In the strong second quarter of 2008, WIT's revenues and earnings beat our estimates and were well supported by large deal wins, inorganic initiatives through acquisitions, geographic expansion, alliances and partnerships.
However, we remain concerned that margins may continue to be pressured for strength of the rupee in the near-term, although the company has been able to expand operating margins despite salary hikes to offshore employees. It has also provided robust revenue guidance for the remainder of the year and its acquisition strategy seems to be well on track.
We have maintained our increased revenue and earnings estimates for 2008 and 2009 and continue to rate WIT a Hold with a target price of $14.75 over the next six months. Wipro is currently trading at 26.5x our fiscal 2008 earnings estimate, which is below its historical range of 35x to 40x and median of 37.1x its forward EPADR estimates.
See the latest posts to the Analyst Blog by visiting http://at.zacks.com/?id=2645
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=2674.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
The performance of the Zacks Rank portfolios shown above for annual and year-to-date periods are the linked monthly total returns (price changes + dividends) of equal weighted hypothetical portfolios, consisting of those stocks with the indicated Zacks Rank, assuming monthly rebalancing and zero transaction costs. These are not the returns of actual portfolios. The hypothetical portfolios were created at the beginning of each month from Jan 1988 forward based on the values of the Zacks Rank available to Zacks' clients before the beginning of each month. The portfolios created monthly from 1988 through September 2006 exclude ADRS and are comprised of stocks that have the indicated Zacks Rank and were covered by at least two analysts at the time of the stocks inclusion in the portfolio. Starting in October 2006 and going forward, the portfolios are comprised of all stocks with the indicated Zacks Rank and do not exclude ADRs, which is more reflective of the list of stocks that customers will find on the Zacks web sites. 2007 returns are for the period of Jan 1 - Jun 30, 2007. These performance numbers have been audited from 1995 through 2003 by Autschuler Melovan, a division of American Express Financial.
Contacts
Zacks.com
Terry Ruffolo
Media Relations
312-265-9213
Visit: www.zacks.com
See the latest posts to the Analyst Blog by visiting: http://at.zacks.com/?id=2673
Here are highlights from Thursday's Analyst Blog:
Big on Onyx's Nexavar
Onyx Pharmaceuticals (Nasdaq: ONXX) delivered strong financial performance of Nexavar in 3Q07 in spite of heavy competition in the kidney cancer market from Pfizer (NYSE: PFE) and Wyeth (NYSE: WYE). We are optimistic about the potential of oncology candidate Nexavar (sorafenib). We believe Nexavar sales will continue to grow over the next several years since the label has expanded to liver cancer. Label expansion into other cancer indications are under way. Nexavar has the potential to become a blockbuster for Onyx.
Nexavar sales continued to grow in 3Q07 in spite of heavy competition from Pfizer's Sutent and Wyeth's new drug Torisel for kidney cancer indications. Total Nexavar sales came in at $104.6 million, up 130% from $45.4 million in 3Q06. US sales increased to $41 million in 3Q07 from $28.4 million in 3Q06, up 44.4%. International sales reached $63.6 million, up 274% from $17 million in 3Q06.
EU and the US approved Nexavar for 1st line treatment of liver cancer in 4Q07. Other international filing is underway. We believe Nexavar sales will be further boosted in 2008 and beyond due to this new indication. We model sales of Nexavar will reach $1 billion in 2010. The stock's current price is attractive; therefore, we upgrade Onyx shares to Buy from Hold with a price target of $64 per share.
Expect In-Line Wipro Earnings
We expect Wipro (NYSE: WIT) to report an in-line 3Q08. In the strong second quarter of 2008, WIT's revenues and earnings beat our estimates and were well supported by large deal wins, inorganic initiatives through acquisitions, geographic expansion, alliances and partnerships.
However, we remain concerned that margins may continue to be pressured for strength of the rupee in the near-term, although the company has been able to expand operating margins despite salary hikes to offshore employees. It has also provided robust revenue guidance for the remainder of the year and its acquisition strategy seems to be well on track.
We have maintained our increased revenue and earnings estimates for 2008 and 2009 and continue to rate WIT a Hold with a target price of $14.75 over the next six months. Wipro is currently trading at 26.5x our fiscal 2008 earnings estimate, which is below its historical range of 35x to 40x and median of 37.1x its forward EPADR estimates.
See the latest posts to the Analyst Blog by visiting http://at.zacks.com/?id=2645
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=2674.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
The performance of the Zacks Rank portfolios shown above for annual and year-to-date periods are the linked monthly total returns (price changes + dividends) of equal weighted hypothetical portfolios, consisting of those stocks with the indicated Zacks Rank, assuming monthly rebalancing and zero transaction costs. These are not the returns of actual portfolios. The hypothetical portfolios were created at the beginning of each month from Jan 1988 forward based on the values of the Zacks Rank available to Zacks' clients before the beginning of each month. The portfolios created monthly from 1988 through September 2006 exclude ADRS and are comprised of stocks that have the indicated Zacks Rank and were covered by at least two analysts at the time of the stocks inclusion in the portfolio. Starting in October 2006 and going forward, the portfolios are comprised of all stocks with the indicated Zacks Rank and do not exclude ADRs, which is more reflective of the list of stocks that customers will find on the Zacks web sites. 2007 returns are for the period of Jan 1 - Jun 30, 2007. These performance numbers have been audited from 1995 through 2003 by Autschuler Melovan, a division of American Express Financial.
Contacts
Zacks.com
Terry Ruffolo
Media Relations
312-265-9213
Visit: www.zacks.com
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