- Although Clovis Oncology (NASDAQ:CLVS) released late-stage data today on its ovarian cancer treatment Rubraca sending the stock soaring, Goldman Sachs analyst Paul Choi is maintaining his sell rating and $5 price target.
- Choi writes that today's massive price surge was "disproportionate for data that was already disclosed [in a December press release] though the confirmatory study affirms Rubraca's role in the treatment indication (vs. maintenance)."
- He adds the because the data presented today lacked new efficacy and safety details on Rubraca in the "more attractive" maintenance setting, his outlook on Rubraca is unchanged.
- Choi calls Clovis' share price rise today "transient."
- Clovis shares closed up 48.5% to $7.90.