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Fly News Breaks for August 24, 2016
CLVS, TSRO
Aug 24, 2016 | 08:01 EDT
Leerink analyst Seamus Fernandez sees the recent weakness in TESARO's (TSRO) stock as a "clear buying opportunity" following the New Drug Application submission of Clovis' (CLVS) rucaparib for the treatment of ovarian cancer, and the circulation of perceived controversies pertaining to niraparib, TESARO's ovarian cancer treatment. The analyst notes that the discussion around a 6-month progression-free survival improvement threshold appeared to be related to accelerated approval and in the gBRCA population specifically, which he does not see as relevant to niraparib's review. Fernandez reiterates an Outperform and $108 price target on TESARO's shares.
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