Onyx stays at neutral by Merrill

Merrill Lynch analyst Eric Ende kept Onyx Pharmaceuticals, Inc. at neutral. The analyst believes that phase 3 data for Nexavar in second-line melanoma, expected in December or January, may be positive, but a risk/reward analysis suggests the stock is fairly priced for the data. Ende also believes an 80% progression free survival benefit is attainable and that the stock is worth between $12 and $23, depending on the trial outcome. Shares of the Emeryville, Calif.-based biopharmaceutical company were down 82 cents, or 4.18%, at $18.78. (Nasdaq: ONXX)

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