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Fly News Breaks for October 31, 2018
CLVS
Oct 31, 2018 | 07:07 EDT
Barclays analyst Gena Wang lowered her price target for Clovis Oncology to $40 citing "disappointing" Rubraca revenue in Q3. Even considering the drawdown of inventory and increase in free drug giveaways in Q3, the adoption of Rubraca in second-line ovarian maintenance setting still appears slow, Wang tells investors in a research note. The analyst, however, remains constructive in the prospect of expanding Rubraca use into additional settings/indications such as prostate/bladder cancers. She maintains an Overweight rating on Clovis.
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