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CLVS

Clovis

$55.51

-1.33 (-2.34%)

05:01
02/27/18
02/27
05:01
02/27/18
05:01

Clovis price target lowered to $85 from $105 at Barclays

Barclays analyst Paul Choi lowered his price target for Clovis Oncology to $85 citing slower market transition to maintenance following the company's Q4 results. The analyst thinks the stock "will likely stay in a holding pattern" prior to the label expansion in the U.S. and an initial treatment indication approval in Europe, both of which are anticipated by Q2. Choi keeps an Overweight rating on Clovis shares.

CLVS Clovis
$55.51

-1.33 (-2.34%)

02/22/18
MSCO
02/22/18
NO CHANGE
Target $86
MSCO
Overweight
Clovis' positive trend vote from CHMP lifts overhang, says Morgan Stanley
Morgan Stanley analyst Andrew Berens said Clovis' announcement that Rubraca has received a positive trend vote from the European CHMP lifts an overhang that has been on the stock since December and strongly suggests a positive final CHMP vote in March. While he remains cautious ahead of the company's Q4 report on February 26 due to Rubraca's inferior competitive position prior to approval in second-line maintenance, Berens keeps an Overweight rating and $86 price target on Clovis shares.
02/22/18
RBCM
02/22/18
UPGRADE
Target $72
RBCM
Outperform
Clovis upgraded to Outperform at RBC Capital on CHMP Rubraca vote
As reported earlier, RBC Capital analyst Kennen MacKay upgraded Clovis to Outperform from Sector Perform, saying the positive trend vote from European CHMP on Rubraca is a "clearing event" given its competitive profile relative to other PARPis and the potential for appreciation from other catalysts. MacKay adds that Clovis offers a "compelling valuation" for a commercial oncology company but lowers his price target to $72 from $80 based on the updated model for 2018 Rubraca treatment sales in U.S. and E.U, decreased maintenance ramp, and increases SG&A expense assumptions.
02/22/18
02/22/18
UPGRADE

Outperform
Evercore ISI upgrades Clovis, Tesaro with PARP potential 'too big to ignore'
As previously reported, Evercore ISI analyst Steven Breazzano upgraded Clovis (CLVS) and Tesaro (TSRO), both to Outperform from In Line, as he believes the stocks' valuations are now attractive on a long-term basis following their pullbacks. He views adoption of the PARP class so far as robust, particularly in ovarian cancer, and sees further upside as PARPs move up into earlier lines of therapy, combination studies, and new indications. However, Breazzano lowered his price target on Clovis shares to $72 from $73 and decreased his target on Tesaro to $88 from $121.
02/22/18
02/22/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Palo Alto Networks (PANW) upgraded to Buy from Neutral at Cleveland Research with the firm saying it's channel partner checks indicate favorable revenue/billings growth in the low-20% range, versus high teens previously, and the product refresh could be a source of upside with increased hardware growth. 2. Verisk Analytics (VRSK) upgraded to Overweight from Neutral at JPMorgan with analyst Andrew Steinerman saying he believes sustainable high-single-digit organic revenue growth is "back in sight" following last night's "strong" fourth quarter results. 3. Tesaro (TSRO) upgraded to Outperform from In Line at Evercore ISI with analyst Steven Breazzano saying he believes the stocks' valuations are now attractive on a long-term basis following their pullbacks. 4. Clovis (CLVS) was upgraded to Outperform from In Line at Evercore ISI and to Outperform from Sector Perform at RBC Capital. 5. Wolverine World Wide (WWW) upgraded to Buy from Neutral at DA Davidson with analyst Andrew Burns saying the company is positioned for accelerating growth following a multi-year restructuring. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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