Clovis Oncology Gets a Hold Rating from Oppenheimer

By Carrie Williams

In a report released today, Leah R. Cann from Oppenheimer reiterated a Hold rating on Clovis Oncology (NASDAQ: CLVS). The company’s shares opened today at $90.90, close to its 52-week high of $99.45.

R. Cann noted:

“Clovis Oncology and Bristol-Myers Squibb Company announced today that the companies have entered into a clinical collaboration agreement to evaluate the combination of Bristol-Myers Squibb’s immunotherapy Opdivo and Clovis Oncology’s PARP inhibitor Rubraca in pivotal phase III clinical trials in advanced ovarian cancer and triple-negative breast cancers, and a phase II prostate cancer study. All three studies are expected to begin before the end of 2017. Covis will be the study sponsor for the ovarian cancer study and Bristol-Myers Squibb for the prostate and breast cancer studies, with Clovis and Bristol-Myers Squibb sharing equally all trial costs for the breast cancer study.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 13.3% and a 74.1% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Crispr Therapeutics AG, and Intellia Therapeutics.

Clovis Oncology has an analyst consensus of Strong Buy, with a price target consensus of $93.14.

The company has a one year high of $99.45 and a one year low of $13.98. Currently, Clovis Oncology has an average volume of 1.86M.

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Clovis Oncology, Inc. is a biopharmaceutical company which focuses on acquiring, developing and commercializing cancer treatments in the United States, Europe and other international markets. The company has three product candidates in its clinical development pipeline: Rociletinib, Rucaparib and Lucitani. Clovis Oncology was founded by Andrew R.