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Trading List: May 18 - Updates & Analyst Actions - CLVS, TGTX

$CLVS$TGTX - On our trading list. All with news today or analyst comments & our opinions. CLVS offering priced at $8.05, analyst raises price target. TGTX price target raised. >

TG Therapeutics price target raised to $37 from $29 at B. Riley

B. Riley FBR analyst Mayank Mamtani raised the firm's price target on TG Therapeutics to $37 from $29 and keeps a Buy rating on the shares. The analyst has increased conviction in ublituximab's value across the oncology and multiple sclerosis franchises. Further, TG's strengthened balance sheet removes a key stock overhang, Mamtani tells investors in a research note.

Our Take:  Just keeps getting good news and the pipeline continues to makes progress.

Clovis 11.09M share Spot Secondary priced at $8.05

The deal priced at low end of $8.05-$8.50 range.
Clovis Oncology announced that it has commenced an underwritten public offering of common stock. Clovis Oncology intends to offer, subject to market and other conditions, $85M of shares of its common stock in an underwritten registered public offering. Clovis Oncology intends to use the net proceeds of this offering for general corporate purposes, including repayment, repurchase or refinance of its debt obligations, sales and marketing expenses associated with Rubraca, rucaparib, funding of its development programs, payment of milestones pursuant to its license agreements, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital. J. P. Morgan Securities and BofA Securities are acting as joint book-running managers for the offering.

Our Take:  Clovis has been on our radar for a while. This pullback caused by the secondary offering maybe a buying opportunity.

Clovis price target raised to $33 from $29 at H.C. Wainwright

H.C. Wainwright analyst Edward White raised the firm's price target on Clovis to $33 from $29 and keeps a Buy rating on the shares after the FDA granted accelerated approval for Rubraca in patients with BRCA1/2-mutant, metastatic castration-resistant prostate cancer patients who have been treated with androgen receptor-directed therapy and a taxane-based chemotherapy.

Our Take:  Maybe a bit to optimistic with their price target. They just priced additional shares at $8.05. Worth a look here.

$CLVS, Clovis Oncology, Inc. / H1

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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