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CLVS

Clovis

$59.70

-3.61 (-5.70%)

, TSRO

Tesaro

$144.23

-1.61 (-1.10%)

07:22
06/16/17
06/16
07:22
06/16/17
07:22

Clovis price target raised to $88 from $74 at Credit Suisse

Credit Suisse analyst Alethia Young assumed coverage of Clovis Oncology (CLVS) and raised the firm's price target on the stock to $88 from $74, noting that her 2023 U.S. estimate for rucaparib is $1.3B versus prior coverage's forecast of $700M. Young, who thinks that the PARPi market is big enough that both Clovis and Tesaro (TSRO) can have blockbuster products, believes both companies are likely attractive targets for large global pharma companies, she tells investors. The analyst keeps an Outperform rating on Clovis shares.

CLVS

Clovis

$59.70

-3.61 (-5.70%)

TSRO

Tesaro

$144.23

-1.61 (-1.10%)

  • 30

    Jun

CLVS Clovis
$59.70

-3.61 (-5.70%)

06/13/17
06/13/17
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. Clovis (CLVS) initiated with an Outperform at Leerink. 2. Arconic (ARNC) resumed with an Equal Weight at Morgan Stanley. 3. Tesoro (TSO) reinstated with a Conviction Buy at Goldman Sachs. 4. Golden Ocean (GOGL) initiated with a Buy at Seaport Global. 5. International Seaways (INSW) initiated with an Overweight at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/13/17
LEER
06/13/17
INITIATION
Target $85
LEER
Outperform
Clovis initiated with an Outperform at Leerink
Leerink analyst Michael Schmidt started Clovis Oncology with an Outperform rating and $85 price target. Rubraca, currently approved in the U.S. as a therapy in third line ovarian cancer patients, has "significant commercial potential" in other indications not currently adequately reflected in the stock's valuation, the analyst contends. Schmidt estimates Clovis shares could be worth $126 in a bull-case scenario, while the floor valuation of the stock is $33 in a worst-case scenario if ARIL3 outright fails. He also sees the company as a "compelling" takeover target.
06/01/17
RHCO
06/01/17
NO CHANGE
RHCO
SunTrust sees $240/share takeout price for Tesaro
After the Wall Street Journal reported yesterday that Tesaro (TSRO) is exploring a sale, albeit with "modest" interest, SunTrust analyst Peter Lawson says his analysis suggests a $240 per share takeout price for the company. Tesaro closed yesterday up $5.88, or 4%, to $149.31. Acquisitions in the PARP inhibitor space are more likely to happen after Clovis Oncology's (CLVS) ARIEL 3 data at the end of June, as the readout will provide a more apples-to-apples comparison to Tesaro and AstraZeneca (AZN), Lawson tells investors in a research note. His "bull case" points to a $286 per share price for Tesaro and $92 per share price for Clovis. Lawson has Buy ratings on both names. JPMorgan's Cory Kasimov this morning said he likes the setup for Clovis shares into the late June data announcement.
06/01/17
JPMS
06/01/17
NO CHANGE
Target $72
JPMS
Overweight
JPMorgan likes setup for Clovis shares into June data
JPMorgan analyst Cory Kasimov provided a "deep dive" into the PARP inhibitor space for ovarian cancer ahead of Clovis Oncology's (CLVS) ARIEL-3 data in June. "We have yet to find convincing evidence of a material efficacy difference between the approved PARP inhibitors," Kasimov tells investors in a research note. He likes the setup for Clovis shares into the June data and believes a "roughly similar" dataset to Tesaro's (TSRO) NOVA trial could lead to a narrowing of the valuation gap between the two companies. The analyst notes Clovis has a market capitalization of $2.3B, well below Tesaro's $8.0B. Kasimov reiterates an Overweight rating on Clovis with a $72 price target.
TSRO Tesaro
$144.23

-1.61 (-1.10%)

06/12/17
RHCO
06/12/17
NO CHANGE
RHCO
Misunderstanding creates buying opportunity in Tesaro stock, says SunTrust
SunTrust analyst Peter Lawson says that the suspension of participant recruitment by Johnson & Johnson (JNJ) for a study of Tesaro's (TSRO) PARP inhibitor Zejula in prostate cancer "is being incorrectly viewed as a clinical hold." After speaking with J&J, Lawson says that the suspension was not due to clinical or safety issues, but to overly fast enrollment. The analyst says that the early data on PARP inhibitors in prostate cancer has been "encouraging." He believes that the misunderstanding has created a buying opportunity in Tesaro stock. .
06/09/17
FBCO
06/09/17
NO CHANGE
FBCO
Outperform
Tesaro prostate study suspension due to fast enrollment, says Credit Suisse
After speaking to Tesaro (TSRO), after they spoke to their partner Johnson & Johnson (JNJ), Credit Suisse analyst Alethia Young said the news of the companies' suspension of participant recruitment in the study of niraparib in prostate cancer is actually positive, since it is due to the trial enrolling faster than expected. The suspension has nothing to do with safety or efficacy and is not a clinical hold, but is due to having too many patients in the first part of trial, Young was told. She maintains an Outperform rating on Tesaro shares.
06/09/17
06/09/17
NO CHANGE

Tesaro tells Janney 'no clinical hold, no suspension' in prostate cancer study
After Tesaro (TSRO) shares saw weakness earlier associated with a notice indicating that enrollment was halted in its Johnson & Johnson (JNJ) partnered prostate cancer study, the company told Janney Capital analyst Debjit Chattopadhyay that there is "no clinical hold, no suspension, no safety issues, nothing going on. The first cohort enrolled quickly and we need to see data before starting to enroll the next group - standard trial conduct... JNJ's screening pool was large due to interest, and screen failure rate was lower than expected. Hence, JNJ stopped screening or they would be at risk of enrolling the whole trial before they get to the first data from run in." The analyst, who expect Tesaro shares to be range bound until peer data and regulatory events, keeps a Neutral rating on the stock, which has recovered all of its earlier losses and is now about flat for the session.
06/09/17
WELS
06/09/17
NO CHANGE
WELS
Tesaro trial suspension 'normal' conduct, says Wells Fargo
Wells Fargo analyst Jim Birchenough says the trial recruitment suspension posted on ClinicalTrials.gov is "normal trial conduct" and does not represent any issues. Tesaro shares, after initially selling off on the news, is unchanged on the day.

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