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CLVS

Clovis

$59.97

0.27 (0.45%)

06:00
06/19/17
06/19
06:00
06/19/17
06:00

Clovis says ARIEL3 study achieves primary endpoint

Clovis Oncology (CLVS) announced topline data from the confirmatory phase 3 ARIEL3 trial of rucaparib, which successfully achieved the primary endpoint of improved progression-free survival, or PFS, by investigator review in each of the three populations studied. PFS was also improved in the rucaparib group compared with placebo by blinded independent central review, or BICR, a key secondary endpoint. Based on these findings, the company plans to submit a supplemental New Drug Application, or sNDA, within the next four months for a second-line and later maintenance treatment indication for all women with platinum-sensitive ovarian cancer who have responded to their most recent platinum therapy. "We are very pleased with these positive ARIEL3 topline results that strongly demonstrate the potential of rucaparib to help women with platinum-sensitive, advanced ovarian cancer," said Patrick Mahaffy, President and CEO of Clovis Oncology. "These results reinforce the potentially foundational role of rucaparib in the management of advanced ovarian cancer, as demonstrated by both investigator review and the blinded independent central review. Most importantly, we are grateful to the patients, caregivers and investigators who participated in this study. We look forward to sharing these data in greater detail at a medical meeting later this year and submitting our sNDA as rapidly as possible, with the ultimate goal of making rucaparib available to more women battling ovarian cancer."

CLVS Clovis
$59.97

0.27 (0.45%)

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.
06/13/17
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.
06/13/17
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.
06/16/17
FBCO
06/16/17
NO CHANGE
Target $88
FBCO
Outperform
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.

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