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.
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