Leerink Swann Resumes CLOVIS ONCOLOGY (CLVS) at Outperform, Notes High Risk/Reward
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Price: $36.91 +0.49%
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CLVS Now!
Leerink Swann resumed coverage on CLOVIS ONCOLOGY (NASDAQ: CLVS) with a Outperform rating and price target of $25.00.
"Near term, CLVS is a high risk/reward opportunity," said analyst Marko Kozul.
"Our probability adjusted $25 DCF valuation estimates CO-1686 at ~$15/share and CO-101 at ~$10/share. Positive CO-101 LEAP data in front-line (FL) pancreatic cancer in 4Q:12 could serve as a significant upward catalyst, while negative data would remove its premium from the shares," added Kozul.
Negative LEAP data would lead analysts to value to CLVS at $15/share based on longer-term potential of CO-1686 in NCSLC (assuming 28% probability of success).
Leerink Swann's current 17% probability of success for CO-101 leads to $10/share, but they believe positive LEAP data with a higher probability of success (i.e., 70%) would lead to a DCF valuation of $55.
For an analyst ratings summary and ratings history on CLOVIS ONCOLOGY click here. For more ratings news on CLOVIS ONCOLOGY click here.
Shares of CLOVIS ONCOLOGY closed at $21.10 yesterday, with a 52 week range of $11.45-$27.55.
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"Near term, CLVS is a high risk/reward opportunity," said analyst Marko Kozul.
"Our probability adjusted $25 DCF valuation estimates CO-1686 at ~$15/share and CO-101 at ~$10/share. Positive CO-101 LEAP data in front-line (FL) pancreatic cancer in 4Q:12 could serve as a significant upward catalyst, while negative data would remove its premium from the shares," added Kozul.
Negative LEAP data would lead analysts to value to CLVS at $15/share based on longer-term potential of CO-1686 in NCSLC (assuming 28% probability of success).
Leerink Swann's current 17% probability of success for CO-101 leads to $10/share, but they believe positive LEAP data with a higher probability of success (i.e., 70%) would lead to a DCF valuation of $55.
For an analyst ratings summary and ratings history on CLOVIS ONCOLOGY click here. For more ratings news on CLOVIS ONCOLOGY click here.
Shares of CLOVIS ONCOLOGY closed at $21.10 yesterday, with a 52 week range of $11.45-$27.55.
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