Here's Why Shares of Clovis Oncology Are Higher Wednesday

Clovis Oncology (CLVS) - Get Report shares were higher Wednesday after analysts with Credit Suisse boosted the stock's rating to OUTPERFORM from NEUTRAL. The firm also hiked its price target to $41 from $19. They say the biotech company could receive a takeover offer given the potential market demand for its anti-cancer drug Rucaparib. The Credit Suisse analysts believe Clovis could be worth $35 to $41 a share on operational synergies, and $52 to $55 a share when accounting for leveraged tax benefits.

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