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CLVS

Clovis

$16.60

-0.12 (-0.72%)

17:42
10/30/18
10/30
17:42
10/30/18
17:42

Clovis plunges over 20% after reporting larger Q3 loss than expected

"As discussed last quarter, growth remains challenging in the second-line maintenance ovarian cancer setting, but we have efforts underway to address this and we are aggressively moving forward to grow this market and grow our share of this market. In addition, our development team continues to make significant progress in moving Rubraca beyond its initial ovarian cancer indications. In particular, we were very pleased with the data from the TRITON studies presented at ESMO and at the Prostate Cancer Foundation Scientific Retreat, which also served as the basis for Breakthrough Therapy designation, and we are committed to developing Rubraca in the prostate setting as rapidly as possible to support men with this difficult-to-treat disease," said CEO Patrick Mahaffy. Shares of Clovis are down 20.29% or $3.37 per share to $13.24 in after-hours trading.

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CLVS Clovis
$16.60

-0.12 (-0.72%)

10/02/18
JPMS
10/02/18
NO CHANGE
JPMS
Overweight
JPMorgan increasingly confident in Clovis Oncology's rucaparib
JPMorgan analyst Cory Kasimov is encouraged by Clovis Oncology's announcement this morning that rucaparib received breakthrough designation from the FDA for the third line treatment of patients with BRCA mutated metastatic castrate-resistant prostate cancer on the basis of data from the Triton-2 study. The analyst says the news further increases his confidence in the potential for rucaparib to produce response rates that are meaningfully better than currently available options. His model implies $9 per share for prostate, assuming a 55% probability of success and $450M in peak unadjusted sales. Kasimov keeps an Overweight rating on Clovis, which is up 11%, or $3.33, to $32.47 in morning trading.
10/18/18
PIPR
10/18/18
INITIATION
Target $33
PIPR
Neutral
Clovis assumed with a Neutral at Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro assumed coverage of Clovis Oncology with a Neutral rating and $33 price target. The analyst believes the shares are fairly valued based on Rubraca's long-term potential across the ovarian cancer treatment landscape. He also has concerns with near- and long-term consensus estimates for the drug.
10/19/18
PIPR
10/19/18
NO CHANGE
PIPR
Neutral
Clovis data 'solid,' but others likely to follow, says Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro believes Clovis Oncology reported "solid" initial data from the Triton2 study evaluating Rubraca in HRD+ metastatic castrate resistant prostate cancer patients. In the subset of BRCA+ patients, Rubraca reported a 44% objective response rate and 51.1% confirmed prostate specific antigen response rate, Catanzaro tells investors in a research note. The analyst says that while this is "definitely a positive outcome" for Rubraca, he expects "this opportunity to become very competitive in the near term." He feels Rubraca is likely not the last PARP to show these response rates and keeps a Neutral rating on Clovis shares.
10/19/18
RHCO
10/19/18
NO CHANGE
Target $90
RHCO
Buy
SunTrust impressed by prostate cancer data from Clovis
The initial Triton2 data this morning from Clovis Oncology show an "impressive" objective response rate at 44%, which is at the higher end of expectations, SunTrust analyst Peter Lawson tells investors in a research note. The analyst notes the 44% is above his previewed ORR of greater than 20% and that management previously mentioned that a 20%-25% rate would be impressive. Lawson finds the supportive confirmed prostate specific antigen response rate of 51% as impressive also. He reiterates a Buy rating on Clovis shares with a $90 price target. The stock in morning trading is down 2%, or 67c, to $29.29.

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