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Fly News Breaks for February 22, 2018
CLVS
Feb 22, 2018 | 08:41 EDT
Morgan Stanley analyst Andrew Berens said Clovis' announcement that Rubraca has received a positive trend vote from the European CHMP lifts an overhang that has been on the stock since December and strongly suggests a positive final CHMP vote in March. While he remains cautious ahead of the company's Q4 report on February 26 due to Rubraca's inferior competitive position prior to approval in second-line maintenance, Berens keeps an Overweight rating and $86 price target on Clovis shares.
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