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CLVS

Clovis

$59.97

0.27 (0.45%)

, TSRO

Tesaro

$144.31

0.08 (0.06%)

08:07
06/19/17
06/19
08:07
06/19/17
08:07

Clovis should now be 'prime takeout candidate,' says Leerink

Leerink analyst Michael Schmidt views this morning's data from Clovis Oncology (CLVS) as the "best-case outcome." The data indicate that efficacy of the three leading PARP inhibitors look very comparable, Schmidt tells investors in a research note titled "Bull Case Plays Out as ARIEL3 Hits All Endpoints." Tesaro (TSRO) and AstraZeneca (AZN) own the other leading PARP inhibitors. The analyst expects shares of Clovis to "trade up significantly" on today's news. Clovis shares in premarket trading are up 40%, or $24.03, to $84.00. "With best-case data in hand," Clovis should be a "prime takeout candidate," Schmidt tells investors. He reiterates an Outperform rating on the shares.

CLVS

Clovis

$59.97

0.27 (0.45%)

TSRO

Tesaro

$144.31

0.08 (0.06%)

AZN

AstraZeneca

$34.54

0.43 (1.26%)

  • 26

    Jun

  • 30

    Jun

CLVS Clovis
$59.97

0.27 (0.45%)

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.
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.
TSRO Tesaro
$144.31

0.08 (0.06%)

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.
06/12/17
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. .
AZN AstraZeneca
$34.54

0.43 (1.26%)

06/06/17
WELS
06/06/17
NO CHANGE
WELS
Amazon may be the next threat to drug pricing, says Wells Fargo
After CNBC recently reported that Amazon (AMZN) is considering going into the prescription pharmacy business in the U.S., Wells Fargo surveyed nearly 2,900 U.S. adults and found that 54% of those polled said they would use or would probably use "Amazon Pharmacy." While the e-commerce giant has not confirmed its U.S. pharmacy interest, if it did enter the market analyst David Maris believes it could see fast adoption and "usher in a new age of price transparency." Maris also wonders if pharmacy "may be just the beginning" and if Amazon eyes the "even larger prize" of fully integrated digital healthcare. Publicly traded large-cap pharmaceuticals companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded retail pharmacy operators include CVS Health (CVS), Walgreens (WBA), Fred's (FRED) and Rite Aid (RAD).
06/05/17
PIPR
06/05/17
NO CHANGE
PIPR
Piper views AstraZeneca, J&J as ASCO standouts
The standouts at ASCO over the weekend were the "compelling results" presented on Johnson & Johnson's (JNJ) Zytiga from the Latitude study in prostate cancer and AstraZeneca's (AZN) Lynparza in the OlympiAD trial in BRCA mutant breast cancer, Piper Jaffray analyst Richard Purkiss tells investors in a research note. In lung cancer, Merck's (MRK) updated data in KN021G "appears more promising" than Bristol-Myers' (BMY) updated data in CM012, the analyst adds. Purkiss believes, however, that relative to recent ASCOs, the data "so far in totality is underwhelming."
05/17/17
JPMS
05/17/17
UPGRADE
Target $72
JPMS
Overweight
Clovis upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Cory Kasimov upgraded Clovis Oncology (CLVS) to Overweight and raised his price target for the shares to $72 from $58. The stock closed yesterday up 2%, or $1.05, to $49.56. The shares are down 35% over the last two months for "no clear fundamental reason," Kasimov tells investors in a research note. The analyst is "increasingly comfortable" recommending Clovis ahead of its Phase 3 study evaluating Rubraca in maintenance ovarian cancer now that more PARP class data has emerged. He has not seen "convincing evidence" that there is a clear efficacy difference between Clovis' rucaparib, Tesaro's (TSRO) niraparib and AstraZeneca's (AZN) olaparib.

TODAY'S FREE FLY STORIES

10:35
09/26/17
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General news
U.S. consumer confidence slipped to 119.8 »

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CATM

Cardtronics

$26.10

-3.17 (-10.83%)

10:34
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PFE

Pfizer

$35.48

-0.03 (-0.08%)

10:30
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Options
Bullish option flow in Pfizer »

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General news
U.S. Richmond Fed's manufacturing index rose to 19 in September »

U.S. Richmond Fed's…

NSRGY

Nestle

$83.75

0.88 (1.06%)

, VZ

Verizon

$49.83

-0.075 (-0.15%)

10:29
09/26/17
09/26
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Hot Stocks
Nestle sets new profit targets, though stance on L'Oreal stake unchanged »

Shares of Nestle (NSRGY)…

NSRGY

Nestle

$83.75

0.88 (1.06%)

VZ

Verizon

$49.83

-0.075 (-0.15%)

LRLCY

L'Oreal

$43.13

-0.19 (-0.44%)

03/08/13
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RGEN

Repligen

$43.22

-0.54 (-1.23%)

, GE

General Electric

$25.09

-0.025 (-0.10%)

10:28
09/26/17
09/26
10:28
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10:28
Recommendations
Repligen, General Electric analyst commentary  »

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RGEN

Repligen

$43.22

-0.54 (-1.23%)

GE

General Electric

$25.09

-0.025 (-0.10%)

03/08/13
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  • 29

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ADDYY

adidas

$113.80

-1.22 (-1.06%)

, NKE

Nike

$53.21

-0.025 (-0.05%)

10:28
09/26/17
09/26
10:28
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10:28
Periodicals
Adidas, Nike employees reportedly named in FBI corruption probe »

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ADDYY

adidas

$113.80

-1.22 (-1.06%)

NKE

Nike

$53.21

-0.025 (-0.05%)

03/08/13
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  • 26

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  • 04

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CCL

Carnival

$65.80

2.3 (3.62%)

10:27
09/26/17
09/26
10:27
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10:27
Hot Stocks
Carnival says booking volumes for 2018 ahead of prior year »

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  • 26

    Sep

10:25
09/26/17
09/26
10:25
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10:25
General news
The 3.4% August U.S. new home sales drop »

The 3.4% August U.S. new…

X

U.S. Steel

$24.36

0.305 (1.27%)

10:21
09/26/17
09/26
10:21
09/26/17
10:21
Periodicals
U.S. Steel spokesperson tells Bloomberg company has not sold Slovak unit »

Bloomberg cites U.S.…

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X

U.S. Steel

$24.36

0.305 (1.27%)

10:20
09/26/17
09/26
10:20
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10:20
Periodicals
Chinese company nearing acquisition of U.S. Steel's Kosice, Spectator reports »

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DWDP

DowDuPont

$70.44

0.1 (0.14%)

, LLEX

Lilis Energy

$4.44

0.09 (2.07%)

10:20
09/26/17
09/26
10:20
09/26/17
10:20
Initiation
On The Fly: Top five analyst initiations »

Catch up on today's…click here.

DWDP

DowDuPont

$70.44

0.1 (0.14%)

LLEX

Lilis Energy

$4.44

0.09 (2.07%)

ALDR

Alder Biopharmaceuticals

$11.15

0.3 (2.77%)

CORI

Corium

$10.88

0.03 (0.28%)

TGNA

Tegna

$12.92

0.06 (0.47%)

03/08/13
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03/06/13
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  • 26

    Sep

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JPM

JPMorgan

$93.84

-0.28 (-0.30%)

, PNC

PNC Financial

$132.62

-0.905 (-0.68%)

10:20
09/26/17
09/26
10:20
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10:20
Downgrade
On The Fly: Top five analyst downgrades »

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JPM

JPMorgan

$93.84

-0.28 (-0.30%)

PNC

PNC Financial

$132.62

-0.905 (-0.68%)

AFL

Aflac

$83.23

-1.03 (-1.22%)

CATM

Cardtronics

$26.10

-3.17 (-10.83%)

CAKE

Cheesecake Factory

$41.60

0.08 (0.19%)

SHAK

Shake Shack

$31.60

-2.015 (-6.00%)

HABT

Habit Restaurants

GNCA

Genocea

$5.33

0.04 (0.76%)

03/08/13
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    Apr

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    Oct

DISCA

Discovery

$21.35

-0.06 (-0.28%)

, MO

Altria Group

$64.87

1.08 (1.69%)

10:20
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On The Fly: Top five analyst upgrades »

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DISCA

Discovery

$21.35

-0.06 (-0.28%)

MO

Altria Group

$64.87

1.08 (1.69%)

LB

L Brands

$42.77

1.87 (4.57%)

SAM

Boston Beer

$159.25

6.25 (4.09%)

BTI

British American Tobacco

$62.01

0.02 (0.03%)

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  • 02

    Nov

NKE

Nike

$53.28

0.05 (0.09%)

10:20
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Nike option volume heavy pre-earnings with shares flat near $53.16 »

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10:20
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General news
U.S. consumer confidence dipped 0.6 points to 119.8 in September »

U.S. consumer confidence…

CCL

Carnival

$65.92

2.4185 (3.81%)

, AAPL

Apple

$150.55

-1.34 (-0.88%)

10:18
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Hot Stocks
Carnival to launch digital streaming channel Ocean View »

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CCL

Carnival

$65.92

2.4185 (3.81%)

AAPL

Apple

$150.55

-1.34 (-0.88%)

AMZN

Amazon.com

$939.79

-15.31 (-1.60%)

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$NSD

NASDAQ Market Internals

10:17
09/26/17
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NASDAQ market internals summary »

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INFO

IHS Markit

$48.29

-0.14 (-0.29%)

10:16
09/26/17
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Technical Analysis
Technical View: IHS Markit drops after results and outlook »

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  • 26

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$NYE

NYSE Market Internals

10:16
09/26/17
09/26
10:16
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10:16
Technical Analysis
NYSE market internals summary »

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10:15
09/26/17
09/26
10:15
09/26/17
10:15
General news
Treasury Action: yields stalled below highs »

Treasury Action: yields…

10:15
09/26/17
09/26
10:15
09/26/17
10:15
General news
Breaking General news story  »

Federal Reserve Governor…

SBH

Sally Beauty

$19.74

0.06 (0.30%)

10:13
09/26/17
09/26
10:13
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10:13
Conference/Events
Sally Beauty management to meet with Oppenheimer »

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  • 27

    Sep

PTCT

PTC Therapeutics

$19.51

0.99 (5.35%)

10:12
09/26/17
09/26
10:12
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10:12
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PTC Therapeutics analyst commentary  »

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  • 28

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GOOGL

Alphabet Class A

$934.28

-8.98 (-0.95%)

, GOOG

Alphabet

$920.97

-7.56 (-0.81%)

10:11
09/26/17
09/26
10:11
09/26/17
10:11
Periodicals
Alphabet to split off Google shopping unit to meet EU demands, Bloomberg says »

The new unit will be…

GOOGL

Alphabet Class A

$934.28

-8.98 (-0.95%)

GOOG

Alphabet

$920.97

-7.56 (-0.81%)

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