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Fly News Breaks for April 13, 2016
CLVS
Apr 13, 2016 | 07:23 EDT
Credit Suisse analyst Kennen MacKay downgraded Clovis Oncology to Neutral after an FDA panel voted 12-1 in favor of waiting for TIGER-3 data and removed rociletinib from his model. MacKay said, given capital uncertainties, he awaits additional guidance on cost-cutting, a rociletinib development path, and rucaparib submission prior to becoming more constructive. The analyst lowered his price target on Clovis shares to $14 from $32.
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