Here's Why Clovis Oncology, Inc. Catapulted As Much As 15% On Friday

Image source: Getty Images.What: Shares of Clovis Oncology (NASDAQ: CLVS), a clinical-stage drug developer primarily focused on the development of therapies to treat cancer, surged as much as 15% during Friday's trading session, based on data from S&P Global Market Intelligence, after SunTrust Robinson Humphrey initiated coverage on the company.So what: According to the note put out by SunTrust Robinson Humphrey earlier this morning, Clovis has been initiated with a "buy" rating and a $25 price target.

 

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