Long Position on CLVS @ $23.90 on 1/9/2019 (Momentum)

Clovis Oncology, Inc. (CLVS) focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.

The company's product candidates include lucitanib, an oral inhibitor of the tyrosine kinase activity of vascular endothelial growth factor receptors, platelet-derived growth factor receptors alpha and beta, and fibroblast growth factor receptors; and rociletinib, an oral mutant-selective inhibitor of epidermal growth factor receptor.

It distributes its products primarily through specialty distributors and pharmacy providers to patients and health care providers. The company has license agreements with Pfizer Inc., AstraZeneca UK Limited, Advenchen Laboratories LLC, and Celgene Corporation; collaboration and license agreement with Les Laboratoires Servier; a clinical collaboration with Bristol-Myers Squibb Company; a partnership with Foundation Medicine, Inc; and a diagnostic collaboration with Myriad Genetics, Inc. 

Shares have formed a bullish "cup and handle" and are expected to move higher from this formation. Note that the company CEO said last night that he is open to sale of the company. The 50-day moving average is shown in brown.

Entry Point: $24.00

Stop Loss:  $22.70

Trading Range: $11.50 - $65.97

Target Price:  $26.79

Updates

2/27/2019 10:44:45 AM

Closed at $29.35

Position closed on 2/27/2019 at price of $29.35 with a 22.80% gain in 49 days.

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