Citi Downgrades Clovis, Rates It As High Risk

Citi analyst Yaron Werber downgraded Clovis Oncology (NASDAQ: CLVS) to Neutral/High Risk and issued a new price target of $53/share.

Citi rated Clovis Neutral/High Risk because the firm is less optimistic on the outlook on both of its drugs due to increased competition.

The firm also said that as with most stocks in its industry, it faces the usual development, regulatory, commercial and competitive risks.

Shares of Clovis closed Tuesday at $38.23.