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BMY

Bristol-Myers

$55.27

1.03 (1.90%)

, CLVS

Clovis

$98.02

5.77 (6.25%)

07:03
07/31/17
07/31
07:03
07/31/17
07:03

Bristol-Myers and Clovis to evaluate combination of Opdivo and Rubraca

Bristol-Myers Squibb (BMY) and Clovis Oncology (CLVS) announced the companies have entered into a clinical collaboration agreement to evaluate the combination of Bristol-Myers Squibb's immunotherapy Opdivo and Clovis Oncology's poly, or ADP-ribose, polymerase, or PARP, inhibitor Rubraca in pivotal phase 3 clinical trials.First in advanced ovarian cancer: First-line maintenance treatment study to evaluate Rubraca + Opdivo, Rubraca, Opdivo and placebo in newly diagnosed patients with stage III/IV high-grade ovarian, fallopian tube, or primary peritoneal cancer who have completed platinum-based chemotherapy. Second in advanced triple-negative breast cancers, orTNBC: First-line maintenance treatment study to evaluate Rubraca + Opdivo, Rubraca, Opdivo and chemotherapy in patients with stage IV or recurrent locally advanced inoperable TNBC associated with a homologous recombination deficiency, or HRD. The collaboration will also include a Phase 2 study to evaluate the safety and efficacy of Opdivo in combination with Rubraca in patients with metastatic castration-resistant prostate cancer. The Opdivo + Rubraca combination in mCRPC will be conducted as an arm of a larger Bristol-Myers Squibb-sponsored study. The planned multi-arm clinical trials will be conducted in the U.S., Europe, and possibly additional countries. Clovis will be the study sponsor and conducting party for the ovarian cancer study and Bristol-Myers Squibb will be the study sponsor and conducting party for the breast and prostate cancer studies.

BMY

Bristol-Myers

$55.27

1.03 (1.90%)

CLVS

Clovis

$98.02

5.77 (6.25%)

  • 02

    Aug

  • 11

    Sep

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    Sep

  • 09

    Nov

  • 05

    Mar

BMY Bristol-Myers
$55.27

1.03 (1.90%)

07/28/17
LEER
07/28/17
NO CHANGE
Target $61
LEER
Outperform
Bristol-Myers price target lowered to $61 after Astra trial setback at Leerink
Leerink analyst Seamus Fernandez said Bristol-Myers (BMY) reported "solid" Q2 results, including encouraging growth for its key franchises, but he sees increased uncertainty following the failure of AstraZeneca's (AZN) MYSTIC trial, which has potential read through to Bristol's CheckMate-227 trial of its I/O combo of Opdivo + Yervoy. Fernandez lowered his price target on Bristol shares to $61 from $66, but "fully acknowledges" the range of differences in the trial designs. He keeps an Outperform rating on Bristol-Myers, citing prospects for monotherapy Opdivo approval in the second-line setting and success in first-line liver cancer.
07/27/17
LEER
07/27/17
NO CHANGE
LEER
Outperform
AstraZeneca trial failure negative for Bristol-Myers, says Leerink
Leerink analyst Seamus Fernandez notes that AstraZeneca (AZN) announced that the MYSTIC trial failed to show a progression-free survival benefit for Imfinzi + tremelimumab compared to chemotherapy in first-line non-small cell lung cancer patients with PDL1 expression greater than 25%. The read through is an obvious negative readthrough for Bristol-Myers' (BMY) combo of Opdivo + Yervoy in the ongoing CheckMate-227 trial, the analyst says. He points out that while there are several key differences in trial design between MYSTIC and CM-227, they are unlikely to result in meaningfully different outcomes. Fernandez reiterates an Outperform rating on Bristol-Myers' shares.
07/27/17
GSCO
07/27/17
NO CHANGE
Target $63
GSCO
Buy
Bristol-Myers could test $50 level following MYSTIC failure, says Goldman Sachs at Goldman Sachs
Goldman analyst Jami Rubin said Bristol-Myers (BMY) could test the $50 level following the failure of AstraZeneca's MYSTIC trial as confidence gets hit for Bristol's PD-L1+CTLA4 thesis in 1L NSCLC and for its own registration phase 3 trial, CM-227, with a potential interim readout not expected till later in the year. The analyst does not have any contribution from 1L NSCLC in his estimates and note Bristol's assets and trial are very different from MYSTIC. Rubin would view any sell off on the news as a buying opportunity ahead of CM-227 optionality and or potential M&A. The analyst rates Bristol a Buy with a $63 price target.
06/27/17
06/27/17
NO CHANGE

Large cap pharma could benefit from upcoming executive order, says Wells Fargo
Wells Fargo says that, based on press reports, large cap pharma could benefit from President Trump's upcoming executive order on drug pricing. The firm says the articles indicate that the order will not create major reforms or do anything to lower consumers' costs or solve current pricing issues. Publicly traded companies in the space 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).
CLVS Clovis
$98.02

5.77 (6.25%)

07/27/17
JANY
07/27/17
NO CHANGE
Target $107
JANY
Buy
PARP deals may make Clovis more attractive buyout candidate, says Janney
The partnerships announced today between AstraZeneca (AZN) and Merck (MRK) as well as Tesaro (TSRO) and Takeda highlight pharma's willingness to expand on PARP's, Janney analyst Debjit Chattopadhyay tells investors in a research note. Clovis' (CLVS) Rubraca is now the only unencumbered PARP and is "far cheaper" on a relative valuation basis than peer Tesaro, the analyst adds. He believes Clovis could now become a more compelling takeover candidate. Chattopadhyay has a Buy rating on the shares with a $107 price target. The stock in midday trading is up 7%, or $5.90, to $93.33.
07/27/17
FBCO
07/27/17
NO CHANGE
FBCO
Merck unlikely to buy PARP company after Astra deal, says Credit Suisse
Credit Suisse analyst Alethia Young believes Merck (MRK) is unlikely to acquire a PARP inhibitor company like Tesaro (TSRO) or Clovis (CLVS) after inking an immuno-oncology deal with AstraZeneca (AZN).
06/22/17
OPCO
06/22/17
INITIATION
OPCO
Perform
Clovis initiated with a Perform at Oppenheimer
Oppenheimer analyst Leah Rush Cann started Clovis with a Perform rating.
06/22/17
RHCO
06/22/17
NO CHANGE
RHCO
Clovis price target raised to $105 from $85 at SunTrust
SunTrust analyst Peter Lawson raised his price target on Clovis based on his belief that the company's PARP inhiobitor, Rubraca, showed "striking efficacy in all three cohorts" of a study. The analyst thinks that the drug will be approved in second phase and later ovarian cancer. He keeps a Buy rating on the shares.

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Progressive

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Thermo Fisher

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Icahn Enterprises

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NVTA

Invitae

$9.60

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NVTA

Invitae

$9.60

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MU

Micron

$30.38

0.76 (2.57%)

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Akari Therapeutics

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ATW

Atwood Oceanics

$6.26

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, ESV

Ensco

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