Clovis Oncology Inc (NASDAQ:CLVS) announced that Dale Hookshas been named Senior Vice President and Chief Commercial Officer. Mr. Hooks succeeds Steve Hoerter, the Company’s current Chief Commercial Officer and Executive Vice President, who is leaving to pursue other opportunities. Hooks joined Clovis in 2014 and has served as a key member of the commercial leadership team involved in preparation for the potential launches of the Company’s late-stage investigational compounds, including rociletinib, for which a New Drug Application (NDA) is currently on file with the U.S. FDA, and rucaparib, for which an NDA is planned during the second quarter of 2016.
“I’m very pleased to announce Dale’s appointment as our Chief Commercial Officer,” said Patrick J. Mahaffy, President and CEO of Clovis Oncology. “Dale has been instrumental in building out our commercial organization, and he brings tremendous depth of experience in oncology sales and marketing to this role. As a company, we have the challenge and the opportunity to potentially launch two drugs within the next 12 months, and Dale has exactly the right skill set and background to lead this effort. I also want to express my great appreciation to Steve for all the contributions he has made to Clovis, and wish him the best going forward.”
Prior to his appointment as Chief Commercial Officer and Senior VP, Hooks served as Vice President of Sales at Clovis, where he has successfully established many of the Company’s key commercial capabilities, including the Field Sales, Commercial Training and Development and Data Management and Analytics functions. Prior to joining Clovis, Hooks spent nearly 10 years at Genentech, where he held a variety of marketing and sales leadership positions, most recently as Franchise Head, Sales & Marketing of the Skin Cancer franchise, where he was responsible for the development of a new oncology franchise focused on skin malignancies. During his tenure at Genentech, he was responsible for the commercialization and successful launches of several key oncology brands across a variety of solid tumor categories, including lung, breast, colorectal, pancreatic and gastric cancers. Prior to Genentech, Hooks served in a number of sales and marketing leadership roles at GSK, Novartis and Galderma.
As Chief Commercial Officer at Clovis, Hooks will be responsible for the global commercial efforts and will also serve on the Company’s executive committee. He will continue to be based in the Company’s San Francisco office.. (Original Source)
Shares of Clovis Oncology closed last Friday at $22.55. CLVS has a 1-year high of $116.75 and a 1-year low of $19.80. The stock’s 50-day moving average is $30.18 and its 200-day moving average is $70.18.
On the ratings front, Clovis Oncology has been the subject of a number of recent research reports. In a report released today, Mizuho analyst Peter Lawson reiterated a Hold rating on CLVS, with a price target of $23, which represents a slight upside potential from current levels. Separately, on January 20, Credit Suisse’s Kennen MacKay initiated coverage with a Buy rating on the stock and has a price target of $32.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Peter Lawson and Kennen MacKay have a total average return of -5.6% and 2.3% respectively. Lawson has a success rate of 42.7% and is ranked #3168 out of 3608 analysts, while MacKay has a success rate of 58.3% and is ranked #1497.
Overall, 4 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $23.00 which is 2.0% above where the stock closed last Friday.
Clovis Oncology Inc is a biopharmaceutical company focused on acquiring, developing and commercializing innovative anti-cancer agents in the United States, Europe and additional international markets.