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Clovis Oncology Could Pass $100 By Year-End: Here's Why

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In a report published Friday, Mizuho Securities analyst Peter Lawson maintained a Buy rating on Clovis Oncology Inc (NASDAQ: CLVS), with a price target of $103.

Analyst Peter Lawson mentioned that rociletininb had been filed with US and EU regulators, and could be launched in the US by the end of this year. The EU has granted accelerated approval to the drug, and Lawson expects a European launch in mid-2016.

In the report Mizuho Securities noted, "We await an update on rociletinib data at World Lung in September, focused on T790M-negative patients, important to expand the patient population and for first line usage, along with data on patients with CNS disease. We had hoped to hear TIGER-1 data (first line NSCLC) at World Lung in September but it appears that the initial data is more likely to be presented at ASCO next year."

Lawson commented that studies of rociletininb in combination with PD-L1, PD-1 and MEK inhibitors were likely to commence in the back half of this year, with additional combination studies in 2016.

Clovis has also inked a five-year CRADA with NCI to evaluate rociletinib combinations. "We could hear what these combinations are in 3Q. We believe combination treatment in oncology is a key long-term trend and will eventually be a key driver for growth," Lawson added.

Latest Ratings for CLVS

Nov 2017Morgan StanleyMaintainsOverweight
Oct 2017BarclaysInitiates Coverage OnOverweight
Sep 2017RBC CapitalInitiates Coverage OnSector Perform

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Posted-In: Mizuho SecuritiesAnalyst Color Reiteration Analyst Ratings


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