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Fly News Breaks for August 19, 2016
CLVS
Aug 19, 2016 | 07:30 EDT
SunTrust analyst Peter Lawson says that he expects Clovis to report positive data next week, with an overall response rate exceeding 50%, above the level of the current approved drug. He thinks that Clovis' treatment will be approved about a year ahead of the competition, but he says that investors may be disappointed that Clovis' drug will fall short of the 80% overall response rate shown in a previous study of easier to treat patients. The analyst thinks that the stock could come under pressure in the near-term, but he keeps a $25 price target and Buy rating on the shares.
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