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CLVS

Clovis

$35.77

-1.51 (-4.05%)

, AZN

AstraZeneca

$32.09

-0.17 (-0.53%)

10:43
10/07/16
10/07
10:43
10/07/16
10:43

Clovis data don't necessarily dampen odds of rucaparib approval, TheStreet says

After Clovis Oncology (CLVS) presented more detailed data from two previously announced clinical trials of its PARP inhibitor, rucaparib, TheStreet's Adam Feuerstein said none of the new data "necessarily dampen odds of rucaparib's approval in ovarian cancer," and attributed the slide in the stock to the potential that could be inferior to AstraZeneca's (AZN) Lynparza and to the chance that takeover speculation may "be subsiding." While comparing drugs across trials is challenging and the enrollment eligibility requirements for the two trials were "somewhat different," neither of those facts have stopped investors from making a judgment about rucaparib, concluded Feuerstein. Reference Link

CLVS

Clovis

$35.77

-1.51 (-4.05%)

AZN

AstraZeneca

$32.09

-0.17 (-0.53%)

  • 07

    Oct

  • 06

    Nov

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    Nov

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    Feb

CLVS Clovis
$35.77

-1.51 (-4.05%)

09/21/16
JANY
09/21/16
DOWNGRADE
JANY
Neutral
Clovis downgraded to Neutral from Buy at Janney Capital
09/21/16
JANY
09/21/16
DOWNGRADE
Target $36
JANY
Neutral
Janney downgrades Clovis with buyout speculation at 'fever pitch'
Janney Capital analyst Roy Buchanan downgraded Clovis Oncology (CLVS) to Neutral from Buy with an increased fair value estimate of $36. Clovis is up 17c to $35.00 in late morning trading. In a research note partially titled, "May Be Right, May Be Crazy - M&A Speculation At Fever Pitch," Buchanan says there is a "finite chance" that Clovis will need to market its PARP inhibitor rucaparib by itself. He believes a late-2016 approval for rucaparib is likely. The analyst attributes his increased fair value estimate to "acquisition optionality." Reports of Takeda's (TKPYY) reserving up to $15B for acquisitions and Medivation's (MDVN) takeout have given Clovis shares a lift, Buchanan tells investors. The analyst adds that rumors surfaced yesterday of potential interest in the company from Eli Lilly (LLY).
10/04/16
PIPR
10/04/16
NO CHANGE
Target $42
PIPR
Neutral
Clovis price target raised to $42 from $14 at Piper Jaffray
Piper Jaffray analyst Steven Breazzano raised his price target for Clovis Oncology (CLVS) to $42 after taking a "comprehensive look" at the PARP inhibitor landscape in ovarian cancer and beyond. The company's PARP inhibitor rucaparib has demonstrated an active profile in ovarian cancer and all signs point to an approval in the 3L+ setting early next year, Breazzano tells investors in a research note. The analyst, however, believes the ultimate key is success in the earlier maintenance setting, and he thinks the race may still be Tesaro's (TSRO) niraparib's to lose. Breazzano keeps a Neutral rating on Clovis.
10/07/16
PIPR
10/07/16
NO CHANGE
PIPR
Neutral
Piper still sees Clovis' rucaparib getting broader indication than Lynparza
Piper Jaffray analyst Steven Breazzano said the rucaparib response rates in platinum resistant and platinum refractory patients of 25% and 0%, respectively, reported by Clovis Oncology (CLVS) are lower than some may have been expecting and "seemingly negative on the surface." However, he continues to believe rucaparib will be approved in BRCA patients who have received 2+ lines of therapy, which is an earlier and broader patient population than assigned to competitor AstraZeneca's (AZN) Lynparza, he tells investors. The ultimate market potential and key to success is the maintenance setting, for which TESARO's (TSRO) niraparib is still best-positioned, adds Breazzano, who keeps a Neutral rating on Clovis shares.
AZN AstraZeneca
$32.09

-0.17 (-0.53%)

09/13/16
EXAN
09/13/16
DOWNGRADE
EXAN
Neutral
AstraZeneca downgraded to Neutral from Outperform at Exane BNP Paribas
09/23/16
PIPR
09/23/16
INITIATION
PIPR
Overweight
AstraZeneca initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Richard Purkiss started AstraZeneca with an Overweight rating and GBP 60 price target.
09/23/16
09/23/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Morgan Stanley analyst Brian Nowak initiated Activision Blizzard (ATVI) and Electronic Arts (EA), both with Overweight ratings. The analyst is bullish on the digital gaming shift away from "units sold" to a business model based on users, engagement, and digital monetization. He sees digital in-game offerings resulting in recurring and growth user bases, increased per-game engagement, and further monetization opportunities. 2. AstraZeneca (AZN) and GlaxoSmithKline (GSK) both initiated with Overweight ratings by Piper Jaffray analyst Richard Purkiss. 3. Achillion (ACHN) initiated with an Outperform by Wedbush analyst Heather Behanna, who set a $13 price target on the shares. 4. Sysco (SYY) initiated with an Underweight at Barclays and $48 price target by analyst Karen Short. 5. Five Below (FIVE), Dollar Tree (DLTR) and Dollar General (DG) all initiated with Equal Weight ratings by Barclays analyst Karen Short. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

CELG

Celgene

$102.65

0.93 (0.91%)

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Juno Therapeutics

$67.81

-3.56 (-4.99%)

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CELG

Celgene

$102.65

0.93 (0.91%)

JUNO

Juno Therapeutics

$67.81

-3.56 (-4.99%)

GILD

Gilead

$80.98

-0.19 (-0.23%)

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MOS

Mosaic

$26.40

-0.135 (-0.51%)

11:25
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Mosaic call volume above normal and directionally bullish »

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  • 20

    Feb

LRAD

LRAD Corporation

$2.28

0.02 (0.88%)

11:25
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Conference/Events
LRAD Corporation to ho ld a conference call »

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  • 22

    Jan

11:25
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Conference/Events
Board of Governors of the Federal Reserve System holds a closed meeting »

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MCO

Moody's

$158.72

-0.46 (-0.29%)

11:25
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01/22
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Conference/Events
Moody's management to meet with RBC Capital »

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  • 22

    Jan

  • 09

    Feb

$NSD

NASDAQ Market Internals

11:17
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Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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PG

Procter & Gamble

$91.66

0.59 (0.65%)

11:16
01/22/18
01/22
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Technical Analysis
Technical Earnings Preview: Procter & Gamble near life highs before news »

The stock is not far from…

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  • 23

    Jan

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$NYE

NYSE Market Internals

11:16
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Technical Analysis
NYSE market internals summary »

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CLR

Continental Resources

$55.80

0.63 (1.14%)

11:15
01/22/18
01/22
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11:15
Options
Continental Resources put volume heavy and directionally bearish »

Bearish flow noted in…

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11:15
01/22/18
01/22
11:15
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11:15
General news
Treasury announced a $35 B 4-week bill offering for Tuesday »

Treasury announced a $35…

11:15
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General news
Breaking General news story  »

3-Month Bill Auction to…

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LQ

La Quinta

$20.32

0.135 (0.67%)

, WYN

Wyndham

$126.65

-0.34 (-0.27%)

11:13
01/22/18
01/22
11:13
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Downgrade
La Quinta, Wyndham rating change  »

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LQ

La Quinta

$20.32

0.135 (0.67%)

WYN

Wyndham

$126.65

-0.34 (-0.27%)

03/08/13
Wedge Partners
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  • 14

    Feb

AAPL

Apple

$178.46

-0.8 (-0.45%)

11:10
01/22/18
01/22
11:10
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11:10
Periodicals
KGI's Kuo says Apple will discontinue first-generation iPhone X, MacRumors says »

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  • 01

    Feb

11:04
01/22/18
01/22
11:04
01/22/18
11:04
General news
4-Week Bill Announcement Offering Amount data reported »

4-Week Bill Announcement…

ZIOP

Ziopharm

$4.28

-0.08 (-1.83%)

11:02
01/22/18
01/22
11:02
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11:02
Periodicals
Ziopharm rise due to 'stupid money' inflow, Feuerstein says »

Adam Feuerstein tweeted:…

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LQ

La Quinta

$20.35

0.17 (0.84%)

11:02
01/22/18
01/22
11:02
01/22/18
11:02
Downgrade
La Quinta rating change  »

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NWBI

Northwest Bancshares

$17.09

0.24 (1.42%)

11:01
01/22/18
01/22
11:01
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11:01
Earnings
Northwest Bancshares reports Q4 EPS 22c, consensus 22c »

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AKS

AK Steel

$6.10

-0.34 (-5.28%)

11:01
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Hot Stocks
AK Steel: Ladle at Middletown Works caster malfunctioned, no injuries reported »

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  • 30

    Jan

XLU

Utilities SPDR

$50.47

0.48 (0.96%)

11:00
01/22/18
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Options
Renewed interest in SPDR Utility Fund Mar 49 puts »

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NWBI

Northwest Bancshares

$17.09

0.24 (1.42%)

10:59
01/22/18
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Hot Stocks
Northwest Bancshares boosts quarterly dividend 6.25% to 17c per share »

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BCS

Barclays

$11.61

0.4715 (4.23%)

10:56
01/22/18
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Hot Stocks
Barclays: Nehren as head of statistical modeling & development, Equities »

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ALGN

Align Technology

$269.46

-1.24 (-0.46%)

10:55
01/22/18
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10:55
Options
Align Technology put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 30

    Jan

HPQ

HP Inc.

$23.78

0.075 (0.32%)

10:55
01/22/18
01/22
10:55
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10:55
Conference/Events
HP Inc. to hold a webcast »

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  • 22

    Jan

DXCM

Dexcom

$56.05

-0.23 (-0.41%)

, MDT

Medtronic

$85.75

-0.93 (-1.07%)

10:54
01/22/18
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Conference/Events
Piper Jaffray medical technology analyst holds analyst/industry conference call »

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DXCM

Dexcom

$56.05

-0.23 (-0.41%)

MDT

Medtronic

$85.75

-0.93 (-1.07%)

PODD

Insulet

$75.18

2.29 (3.14%)

TNDM

TNDM

ABT

Abbott

$59.07

-0.24 (-0.40%)

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