BidaskClub upgraded shares of Clovis Oncology, Inc. (NASDAQ:CLVS) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday.
CLVS has been the topic of a number of other research reports. J P Morgan Chase & Co reissued an overweight rating and issued a $111.00 price target (up previously from $72.00) on shares of Clovis Oncology in a research note on Tuesday, June 20th. Bank of America Corporation lowered their target price on Clovis Oncology from $103.00 to $75.00 and set a buy rating on the stock in a research note on Tuesday, June 20th. Zacks Investment Research cut Clovis Oncology from a buy rating to a hold rating in a research note on Thursday, July 13th. Janney Montgomery Scott raised Clovis Oncology from a neutral rating to a buy rating in a research note on Tuesday, June 20th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $79.00 target price on shares of Clovis Oncology in a research note on Tuesday, June 20th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $81.59.
Clovis Oncology (NASDAQ:CLVS) traded up 1.38% on Wednesday, reaching $78.50. 1,312,623 shares of the company’s stock were exchanged. The stock’s market capitalization is $3.50 billion. The firm’s 50 day moving average is $87.51 and its 200 day moving average is $66.24. Clovis Oncology has a 1-year low of $14.62 and a 1-year high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.27) by $0.02. The company had revenue of $14.62 million during the quarter, compared to analysts’ expectations of $13.07 million. The company’s quarterly revenue was down 32.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.07) earnings per share. Analysts expect that Clovis Oncology will post ($5.96) EPS for the current year.
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In other news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $61.82, for a total transaction of $185,460.00. Following the completion of the sale, the insider now directly owns 200,583 shares in the company, valued at approximately $12,400,041.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 9,000 shares of company stock valued at $602,310. 17.40% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. First Mercantile Trust Co. purchased a new stake in shares of Clovis Oncology during the first quarter valued at about $115,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Clovis Oncology by 71.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,819 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 758 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Clovis Oncology by 160.7% in the second quarter. Advisors Asset Management Inc. now owns 1,895 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 1,168 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Clovis Oncology by 3.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,800 shares of the biopharmaceutical company’s stock valued at $179,000 after buying an additional 100 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Clovis Oncology during the first quarter valued at about $185,000. Institutional investors and hedge funds own 90.01% of the company’s stock.
About Clovis Oncology
Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.
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