In a report released today, Leah R. Cann from Oppenheimer maintained a Hold rating on Clovis Oncology (NASDAQ: CLVS). The company’s shares opened today at $30.90, close to its 52-week low of $26.21.
Cann said:
“The initial data for the TRITON2 study in patients with metastatic, HR-deficient, castration-resistant prostate cancer are based on small patient numbers, but are very encouraging for patients with BRCA mutations. The 44% ORR for these patients compares favorably to the reference literature. In addition, screening data using less invasive cfDNA plasma testing could help identify more patients eligible for Rubraca treatment in the prostate setting. We have not included any sales or earnings in our outlook from Rubraca in the prostate setting by 2022 due to its stage of development, but we are encouraged by these initial TRITON2 data. Our financial outlook for Clovis’ revenue remains unchanged for 2018-2022.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 10.4% and a 46.8% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
Currently, the analyst consensus on Clovis Oncology is a Moderate Buy with an average price target of $46, which is a 48.9% upside from current levels. In a report released yesterday, Piper Jaffray also initiated coverage with a Hold rating on the stock with a $33 price target.
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The company has a one-year high of $79.60 and a one-year low of $26.21. Currently, Clovis Oncology has an average volume of 1.21M.
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Clovis Oncology, Inc. engages in the acquisition, development, and commercialization of anti-cancer agents. Its marketed product, Rubraca, seeks to treat patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies. It also has product candidates, namely Rociletinib and Lucitanib.
