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Fly News Breaks for June 20, 2018
CLVS, TSRO
Jun 20, 2018 | 12:11 EDT
SunTrust analyst Peter Lawson says his takeover analysis suggests a potential buyout value of $153 per share for Tesaro (TSRO), with a range of $109 to $196. Tesaro is well positioned as one of only two independent commercial PARP companies, Lawson tells investors in a research note after Spanish website Intereconomia reported that Roche (RHHBY) could announce plans to acquire the company in the next few days. The analyst views the report as a potential positive for the biotechnology space, mainly Clovis Oncology (CLVS) and oncology peers. Lawson has a Buy rating on Tesaro with a $150 price target. The stock in midday trading is up 14%, or $5.55, to $45.54. Clovis is up 5% to $47.85.
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