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Clovis Oncology (CLVS) Jumps: Stock Adds 21.9% in Session

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Clovis Oncology, Inc. was a big mover last session, as its shares rose almost 22% on the day. The upside followed the release of Tesaro, Inc.’s positive Phase 3 clinical trial results for Niraparib, a PARP inhibitor. Clovis Oncology is developing rucaparib, which is also a PARP inhibitor. This led to far more shares changing hands than in a normal session. Yesterday’s rally reverses the downtrend for the company, as the stock is now down almost 11%.

Over the last 30 days, the company did not witness any estimate revision and the Zacks Consensus Estimate also remained unchanged. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Clovis Oncology has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

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