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Fly News Breaks for September 14, 2017
CLVS
Sep 14, 2017 | 16:49 EDT
RBC Capital analyst Kennen MacKay initiated Clovis with a Sector Perform and an $81 price target due to intensifying competition. The analyst said Clovis' Rubraca IP position looks positive in the US but could be challenged in the EU. Further, MacKay sees scarcity value in Clovis but said valuation across commercial stage oncology are rich and needs clarity on corporate tax reform prior to seeing a sustainable increase in M&A.
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