Clovis Oncology Inc. (CLVS) , one of the hottest biotech stocks of the last few months, is selling off Thursday but according to at least one Wall Street firm, the sell-off may be overdone.
“Rubraca, the company’s lead product candidate, will gain significant market share in the large and rapidly evolving PARP inhibitor category, which is not adequately reflected in the stock’s current valuation,” wrote Leerink Partners Michael Schmidt in a note Thursday following the release of the company’s second quarter earnings.
