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AZN

AstraZeneca

$30.07

-0.04 (-0.13%)

06:07
09/06/17
09/06
06:07
09/06/17
06:07

AstraZeneca CEO worried about lack of progress in Brexit talks, Bloomberg says

Pascal Soriot, the CEO of AstraZeneca, is concerned about the lack of progress in Brexit discussions, saying that "so far, we don't have any idea how products will be shipped across borders... There's no clarity in terms of trade," Bloomberg reports. In a worst-case scenario, "we don't have a clue how we deal with all these countries that the U.K. has no trade agreement with," Soriot said. "That's unlikely to happen, hopefully." Reference Link

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AZN AstraZeneca
$30.07

-0.04 (-0.13%)

08/17/17
BOFA
08/17/17
NO CHANGE
Target $59
BOFA
Tesaro and Clovis at BofA/Merrill
BofA/Merrill said it already assumed that the maintenance Ovarian cancer PARP market would be shared between Tesaro (TSRO), Clovis (CLVS), and AstraZeneca (AZN) and differences, combined with more nuanced differentiators in safety and dosing justify multiple participants. The firm's analyst reiterates Buy ratings on both Clovis and Tesaro and notes both have demonstrated strong initial uptake.
08/18/17
SBSH
08/18/17
NO CHANGE
Target $216
SBSH
Buy
Citi sees advantage for Tesaro despite broad Lynparza label
Citi analyst Robyn Karnauskas says the "broad label" given yesterday to AstraZeneca's (AZN) Lynparza increases competition for Tesaro (TSRO). Lynparza got a broad label in all ovarian cancer patients, which Karnauskas says she was not modeling for. The analyst suspects Clovis Oncology (CLVS) could also get a similar broad label. Nonetheless, she believes that with "better clinical data, better value, and dosing convenience," Tesaro's Zejula has a potential marketing advantage. Oncologic drugs with the best outcomes data eventually emerge market winners, Karnauskas tells investors in a research note. The analyst keeps a Buy rating on Tesaro with a $216 price target. The shares closed yesterday down $3.94 to $109.05.
08/18/17
LEER
08/18/17
NO CHANGE
Target $107
LEER
Outperform
Clovis price target lowered to $107 from $115 at Leerink
Leerink analyst Michael Schmidt lowered his price target for Clovis Oncology (CLVS) to $107 after competitor AstraZeneca (AZN) received a broad label for PARP inhibitor Lynparza as maintenance treatment following second line ovarian cancer therapy regardless of BRCA status. His new target reflects a three-way market split among Clovis' Rubraca, Tesaro's (TSRO) Zejula and Lynparza in second line ovarian cancer maintenance. The analyst, however, believes Clovis remains attractively valued and he keeps an Outperform rating on the shares.
08/18/17
FBCO
08/18/17
NO CHANGE
Target $190
FBCO
Outperform
Tesaro, Clovis shares reflect very little M&A value, says Credit Suisse
Credit Suisse analyst Alethia Young believes AstraZeneca's (AZN) broad label news yesterday for Lynparza likely lifted an overhang for both Tesaro (TSRO) and Clovis Oncology (CLVS). Shares of both Tesaro and Clovis are reflecting "very little to no M&A value" at current levels, Young tells investors in a research note. She lowered her price target for Tesaro to $190 from $198 and keeps an Outperform rating on the name.

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