Clovis should now be 'prime takeout candidate,' says Leerink

Leerink analyst Michael Schmidt views this morning's data from Clovis Oncology (CLVS) as the "best-case outcome." The data indicate that efficacy of the three leading PARP inhibitors look very comparable, Schmidt tells investors in a research note titled "Bull Case Plays Out as ARIEL3 Hits All Endpoints." Tesaro (TSRO) and AstraZeneca (AZN) own the other leading PARP inhibitors. The analyst expects shares of Clovis to "trade up significantly" on today's news. Clovis shares in premarket trading are up 40%, or $24.03, to $84.00. "With best-case data in hand," Clovis should be a "prime takeout candidate," Schmidt tells investors. He reiterates an Outperform rating on the shares.