As noted earlier, Chardan analyst Madhu Kumar initiated coverage of Clovis with a Sell rating and a $15 price target. Kumar says that "the lack of efficacy" and "safety signals" of the company's rucaparib drug pose "considerable risks" ahead of its February 23, 2017 PDUFA date. The analyst says that the drug "does not appear" to have greater efficacy than existing treatments, as any advantages it shows over the standard of care are not statistically significant. He adds that the product has caused many more adverse events than approved drugs that treat ovarian cancer.