Market Overview

UPDATE: H.C. Wainwright nitiates on Clovis Oncology On Prospects Of CO-1686

Share:
Related CLVS
Mid-Morning Market Update: Markets Open Higher; Coach Profit Beats Views
Mid-Afternoon Market Update: Crude Oil Up 3.5%; Ceragon Shares Drop Following Q2 Results
FDA to review Clovis' rucaparib NDA for ovarian cancer, action date in six months; shares jump 31% (Seeking Alpha)

In a report published Friday, H.C. Wainwright & Co. analyst Caroline Stewart initiated a Neutral rating on Clovis Oncology (NASDAQ: CLVS) and set a price target of $55.00.

In the report, H.C. Wainwright & Co. says "We believe that the current market valuation for CLVS fairly values: 1) CO-1686 (a small molecule covalent mEGFR inhibitor) for the treatment of non-small cell lung cancer (NSCLC) driven by mutated EGFR (mEGFR); and 2) platform value for rucaparib (a PARP1/2 inhibitor) for the potential treatment of ovarian and breast cancers. While we believe that CO-1686 could eventually demonstrate a best-in-class profile and see the commercial opportunity in mEGFR NSCLC as sizable (estimated $2.5B+), we see the risk-reward as still fundamentally balanced on the prospects of upcoming Phase 1/2 data, even with the recent market pullback (to an EV of ~$1B)."

Clovis closed on Thursday at $52.89.

Latest Ratings for CLVS

DateFirmActionFromTo
Aug 2016SunTrust Robinson HumphreyInitiates Coverage onBuy
Apr 2016JP MorganDowngradesOverweightNeutral
Apr 2016Piper JaffrayAssumesNeutral

View More Analyst Ratings for CLVS
View the Latest Analyst Ratings

Posted-In: Caroline Stewart H.C. Wainwright & Co.Analyst Color Initiation Analyst Ratings

 

Related Articles (CLVS)

View Comments and Join the Discussion!