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CLVS

Clovis

$98.02

5.77 (6.25%)

, BMY

Bristol-Myers

$56.50

1.23 (2.23%)

10:05
07/31/17
07/31
10:05
07/31/17
10:05

Clovis weakness unwarranted after Bristol-Myers pact, says Leerink

Leerink analyst Michael Schmidt thinks today's weakness in Clovis (CLVS) is unwarranted following the company's clinical collaboration agreement with Bristol-Myers (BMY) and presents a buying opportunity. This deal does not preclude a future acquisition of the company, but it does increase the competitiveness and value of Rubraca, argues Schmidt, who reiterates his Outperform rating on Clovis shares.

CLVS

Clovis

$98.02

5.77 (6.25%)

BMY

Bristol-Myers

$56.50

1.23 (2.23%)

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CLVS Clovis
$98.02

5.77 (6.25%)

07/31/17
JANY
07/31/17
NO CHANGE
Target $107
JANY
Buy
Clovis partnership undercuts takeover thesis, says Janney Capital
Janney Capital analyst Debjit Chattopadhyay says Clovis Oncology's (CLVS) clinical partnership with Bristol-Myer Squibb (BMY) undercuts his takeout thesis. The recent agreements across the PARP drugs implies no near-term takeovers, Chattopadhyay tells investors in a research note. He believes this will "likely to be disappointing to many." The analyst has a Buy rating on Clovis with a $107 price target. The shares in early trading are down $8.04, or 8% to $89.97.
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.
BMY Bristol-Myers
$56.50

1.23 (2.23%)

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.

TODAY'S FREE FLY STORIES

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08/17/17
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SEC holds a closed commission meeting »

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WMT

Wal-Mart

$79.18

-1.7998 (-2.22%)

13:24
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ADP

ADP

$111.10

-0.48 (-0.43%)

13:21
08/17/17
08/17
13:21
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13:21
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ADP analyst commentary  »

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NAK

Northern Dynasty

$1.56

0.065 (4.36%)

13:20
08/17/17
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13:20
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13:20
Options
Call buyers back in Northern Dynasty Minerals »

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CLS

Celestica

$11.55

-0.035 (-0.30%)

13:17
08/17/17
08/17
13:17
08/17/17
13:17
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Celestica rating change  »

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TSRO

Tesaro

$112.99

-1.01 (-0.89%)

, AZN

AstraZeneca

$29.12

-0.0637 (-0.22%)

13:17
08/17/17
08/17
13:17
08/17/17
13:17
Hot Stocks
Breaking Hot Stocks news story on Tesaro, AstraZeneca »

Tesaro drops 2% after FDA…

TSRO

Tesaro

$112.99

-1.01 (-0.89%)

AZN

AstraZeneca

$29.12

-0.0637 (-0.22%)

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$NSD

NASDAQ Market Internals

13:17
08/17/17
08/17
13:17
08/17/17
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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AZN

AstraZeneca

$29.11

-0.07 (-0.24%)

13:16
08/17/17
08/17
13:16
08/17/17
13:16
Hot Stocks
FDA posts approval of new dosage form for AstraZeneca's Lynparza 

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$NYE

NYSE Market Internals

13:16
08/17/17
08/17
13:16
08/17/17
13:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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CTL

CenturyLink

$19.72

-1.17 (-5.60%)

, LVLT

Level 3

$53.45

-1.73 (-3.14%)

13:13
08/17/17
08/17
13:13
08/17/17
13:13
Hot Stocks
CenturyLink says working to finalize Level 3 deal by end of Q3 »

CenturyLink (CTL) said in…

CTL

CenturyLink

$19.72

-1.17 (-5.60%)

LVLT

Level 3

$53.45

-1.73 (-3.14%)

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CTL

CenturyLink

$19.73

-1.16 (-5.55%)

, LVLT

Level 3

$53.45

-1.73 (-3.14%)

13:12
08/17/17
08/17
13:12
08/17/17
13:12
Hot Stocks
Breaking Hot Stocks news story on CenturyLink, Level 3 »

CenturyLink says working…

CTL

CenturyLink

$19.73

-1.16 (-5.55%)

LVLT

Level 3

$53.45

-1.73 (-3.14%)

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ADP

ADP

$111.10

-0.48 (-0.43%)

13:10
08/17/17
08/17
13:10
08/17/17
13:10
Options
ADP attracts put buyers as shares come under fire »

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ADOM

Adomani

$12.86

0.86 (7.17%)

, VLKAY

Volkswagen

$31.10

0.19 (0.61%)

13:06
08/17/17
08/17
13:06
08/17/17
13:06
Hot Stocks
Adomani sees $2.9B in settlement funds from Volkswagen »

Adomani (ADOM) announced…

ADOM

Adomani

$12.86

0.86 (7.17%)

VLKAY

Volkswagen

$31.10

0.19 (0.61%)

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HZNP

Horizon Pharma

$11.89

-0.05 (-0.42%)

13:05
08/17/17
08/17
13:05
08/17/17
13:05
Options
Horizon Pharma call volume above normal and directionally bullish »

Bullish option flow…

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CLS

Celestica

$11.50

-0.08 (-0.69%)

13:04
08/17/17
08/17
13:04
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13:04
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Celestica rating change  »

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MDVX

Medovex

$0.95

0.05 (5.56%)

12:55
08/17/17
08/17
12:55
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12:55
Hot Stocks
Medovex names Charlie Farrahar as CFO »

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PFE

Pfizer

$33.20

-0.16 (-0.48%)

12:53
08/17/17
08/17
12:53
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12:53
Hot Stocks
FDA posts approval of Pfizer's biologic license qpplication for Besponsa 

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NADL

North Atlantic Drilling

$1.44

-0.075 (-4.97%)

12:50
08/17/17
08/17
12:50
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12:50
Options
Notable put spread in North Atlantic Drilling »

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12:45
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General news
Breaking General news story  »

Dallas Federal Reserve…

HRB

H&R Block

$30.21

-0.53 (-1.72%)

12:40
08/17/17
08/17
12:40
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12:40
Options
Higher option volume in H&R Block driven by call buying »

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EXPE

Expedia

$148.78

1.72 (1.17%)

12:35
08/17/17
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12:35
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12:35
Options
Expedia put volume heavy and directionally bearish »

Bearish flow noted in…

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12:35
08/17/17
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12:35
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General news
Treasury Option Action: call buying at the long-end »

Treasury Option Action:…

ADP

ADP

$111.10

-0.48 (-0.43%)

12:32
08/17/17
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Hot Stocks
Chapman says making dollar going against Ackman feels as good as $10 »

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ADP

ADP

$111.10

-0.48 (-0.43%)

12:31
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Hot Stocks
Breaking Hot Stocks news story on ADP »

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