Clovis Oncology, Inc. (NASDAQ:CLVS) has received an average rating of “Buy” from the twenty brokerages that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $84.23.
A number of equities research analysts have recently issued reports on the company. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $111.00 target price (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 for the company in a research note on Tuesday, June 20th. Zacks Investment Research lowered Clovis Oncology from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Janney Montgomery Scott upgraded Clovis Oncology from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $79.00 target price on shares of Clovis Oncology in a research note on Tuesday, June 20th.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $47.39, for a total value of $142,170.00. Following the completion of the transaction, the insider now owns 203,583 shares in the company, valued at approximately $9,647,798.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 9,000 shares of company stock valued at $602,310. Insiders own 17.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CLVS. Federated Investors Inc. PA raised its position in shares of Clovis Oncology by 27.2% in the second quarter. Federated Investors Inc. PA now owns 29,330 shares of the biopharmaceutical company’s stock valued at $2,746,000 after buying an additional 6,265 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in shares of Clovis Oncology by 120.1% in the second quarter. Tocqueville Asset Management L.P. now owns 57,125 shares of the biopharmaceutical company’s stock valued at $5,349,000 after buying an additional 31,175 shares during the last quarter. Columbus Circle Investors raised its position in shares of Clovis Oncology by 119.5% in the second quarter. Columbus Circle Investors now owns 122,532 shares of the biopharmaceutical company’s stock valued at $11,473,000 after buying an additional 66,713 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Clovis Oncology by 19.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 23,863 shares of the biopharmaceutical company’s stock valued at $2,234,000 after buying an additional 3,894 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Clovis Oncology during the second quarter valued at approximately $577,000. Institutional investors own 90.01% of the company’s stock.
Shares of Clovis Oncology (CLVS) traded up 1.38% during trading on Tuesday, hitting $78.50. The stock had a trading volume of 1,312,623 shares. Clovis Oncology has a one year low of $14.62 and a one year high of $99.45. The company’s market cap is $3.84 billion. The stock’s 50-day moving average price is $87.51 and its 200-day moving average price is $66.24.
Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by $0.02. The firm had revenue of $14.62 million during the quarter, compared to analyst estimates of $13.07 million. During the same period in the prior year, the business posted ($2.07) EPS. The business’s quarterly revenue was down 32.5% on a year-over-year basis. On average, equities research analysts forecast that Clovis Oncology will post ($5.96) EPS for the current fiscal year.
Clovis Oncology Company Profile
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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