Leerink analyst Michael Schmidt raised his price target for Clovis Oncology (CLVS) to $114 following this morning's top-line Phase III Ariel3 results for Rubraca. The analyst views the data as "very compelling" when compared to competitor PARP inhibitors in ovarian cancer. He expects Rubraca to obtain a broad label in the second line ovarian cancer maintenance setting. As stated earlier today, Schmidt believes Clovis now represents a "prime takeout candidate." The analyst, however, notes that his new price target does not incorporate a takeout valuation. Schmidt keeps an Outperform rating on Clovis.