Why Clovis Oncology Tumbled 13.5% Today
After disclosing that it's entered into a pact with Bristol-Myers Squibb (NYSE: BMY) on its cancer-fighting drug Rubraca, shares in Clovis Oncology (NASDAQ: CLVS) lost 13.5% of their value Monday.
While teaming up with biopharma giant Bristol-Myers Squibb would normally be viewed as a good thing, investors had sent shares soaring ahead of today's announcement in hopes of an acquisition. Thus, they walked away today disappointed.
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Source: Fool.com
Bristol-Myers Squibb Stock
€46.46
11.400%
With 8 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 70 € shows a very positive potential of 50.67% compared to the current price of 46.46 € for Bristol-Myers Squibb.
