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Biotech Beat: Analysts Remain Bullish On Clovis Oncology Inc (CLVS) And bluebird bio Inc (BLUE)


As always, it’s been a busy week in the biotechnology sector. Analysts remain bullish on both bluebird bio Inc (NASDAQ:BLUE) on the back of ASH Abstract data and Clovis Oncology Inc (NASDAQ:CLVS) following FDA approval setback.

Clovis Oncology Inc

Analyst Thomas Shrader of Stifel maintained a Buy rating on Clovis Oncology though slashed his price target from $140 to $45 after the company provided an update on Rociletinib, which aims to treat cancer, specifically lung cancer.

Shrader Stat

In the drug’s recent FDA update, Rociletinib looks inferior to Tagrisso, a similar drug made by AstraZeneca that was just approved. Shrader explains that Rociletinib was believed the reduce tumor sizes by 55%, but recent studies shows it only reduces tumors by 30%. He explains, “Overall, the difference in response rate from about 55% based on preliminary determinations to about 30% based on readings at a central site is bigger than we have ever seen but probably reflects the degree of...