Leerink analyst Michael Schmidt noted Bloomberg highlighted speculation claiming that Eli Lilly (LLY) had submitted a $110 per share offer to acquire Clovis (CLVS). While he views the speculation as "unsubstantiated" and the social media sources attributed as "highly questionable," he does think Clovis could be a possible takeout candidate and he does believe the addition of a PARP inhibitor makes a lot of strategic sense for Lilly. He reiterates an Outperform rating and $107 price target on Clovis shares, which are up 9% to $75.91 in afternoon trading.