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Fly News Breaks for November 17, 2015
CLVS
Nov 17, 2015 | 07:58 EDT
JPMorgan analyst Cory Kasimov cut his price target for Clovis Oncology to $42 after the company announced a potential delay in FDA approval for rociletinib as well as lower than previously presented unconfirmed responses. Kasimov keeps an Overweight rating on the stock, however, saying the stock reflects minimal contribution from roci following yesterday's 70% selloff. The pullback is likely overdone as the drug is still approvable, Kasimov tells investors in a research note.
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