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Fly News Breaks for October 31, 2018
CLVS
Oct 31, 2018 | 09:30 EDT
SunTrust analyst Peter Lawson slashed his price target on Clovis by $70 to $20 following the company's reported "significant miss" in Rubraca sales. Despite the uncertainty, the analyst keeps his Buy rating, saying that he likes the management's guidance and added confidence from the appointment of a new commercial officer. Lawson also notes that it will take a few days for his pricing model to settle until he gets more detail on the revenues from competitors and the impact from "increased supply of the free drug".
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