This Pharma Stock Soared More Than 360% in November
The best -- and worst -- thing about pharmaceutical stocks is how volatile they can be. Sharp increases and drops in value aren't uncommon, and Clovis Oncology (NASDAQ: CLVS) is an excellent example of just how quickly valuations in this industry can change.
During the month of November, this cancer treatment developer saw its stock price soar nearly 370%, and it has grown to a more than $600 million valuation along the way. It has since dipped in December, but it's still up 323% since the end of October.
Clovis' stock received a big boost when the company released its quarterly results on Nov. 7. In the third quarter of fiscal 2019, the company beat analyst expectations for both sales and earnings, despite posting a per-share loss of $1.89 compared to a loss of $1.71 in the prior-year quarter.
Source Fool.com
