Clovis Oncology Inc (fka CLVSQ) (CLVSQ)

[Mitshu35]

Market Chatter: Clovis Oncology Gains as Buyout Rumors Swirl; Shares up 5%
9:57 AM ET, 09/21/2016 - MT Newswires

09:57 AM EDT, 09/21/2016 (MT Newswires) -- Clovis Oncology (CLVS) is trading higher Wednesday as rumors of a possible takeover drives shares of the biopharmaceutical company up more than 5%.

Credit Suisse analyst Kennen MacKay upgraded Clovis to outperform from neutral and bumped the price target up by 116% on expectations that Eli Lilly (LLY), Merck (MRK) and Takeda Pharmaceuticals are all potential buyers.

And in an interview with Bloomberg, an analyst with Janney Capital cites a "long list" of suitors that also includes Roche.