Palo Alto Investors LLC raised its stake in shares of Clovis Oncology Inc (NASDAQ:CLVS) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,402,781 shares of the biopharmaceutical company’s stock after purchasing an additional 73,200 shares during the period. Clovis Oncology accounts for approximately 10.0% of Palo Alto Investors LLC’s investment portfolio, making the stock its 3rd biggest position. Palo Alto Investors LLC owned approximately 6.94% of Clovis Oncology worth $231,389,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Commonwealth Equity Services Inc bought a new position in shares of Clovis Oncology in the 3rd quarter worth about $239,000. First Republic Investment Management Inc. bought a new position in shares of Clovis Oncology in the 3rd quarter worth about $251,000. BB&T Securities LLC bought a new position in shares of Clovis Oncology in the 3rd quarter worth about $288,000. Advisors Asset Management Inc. raised its position in shares of Clovis Oncology by 175.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 5,229 shares of the biopharmaceutical company’s stock worth $431,000 after acquiring an additional 3,334 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Clovis Oncology by 16.1% in the 3rd quarter. Amalgamated Bank now owns 5,587 shares of the biopharmaceutical company’s stock worth $460,000 after acquiring an additional 776 shares in the last quarter.
Several research analysts have recently weighed in on CLVS shares. ValuEngine raised Clovis Oncology from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Barclays set a $85.00 price objective on Clovis Oncology and gave the stock a “buy” rating in a research report on Tuesday, February 27th. BidaskClub raised Clovis Oncology from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 9th. Zacks Investment Research raised Clovis Oncology from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus lowered their price objective on Clovis Oncology from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $87.84.
Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Monday, February 26th. The biopharmaceutical company reported ($1.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.29) by $0.25. The company had revenue of $17.04 million during the quarter, compared to the consensus estimate of $19.42 million. Clovis Oncology had a negative return on equity of 81.34% and a negative net margin of 624.02%. The firm’s revenue for the quarter was up 21746.2% compared to the same quarter last year. During the same period last year, the business posted ($1.83) EPS. analysts anticipate that Clovis Oncology Inc will post -4.75 earnings per share for the current year.
In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $59.16, for a total transaction of $177,480.00. Following the completion of the transaction, the insider now owns 183,571 shares in the company, valued at approximately $10,860,060.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thorlef Spickschen sold 4,500 shares of Clovis Oncology stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $64.97, for a total value of $292,365.00. Following the transaction, the director now owns 21,118 shares of the company’s stock, valued at approximately $1,372,036.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,500 shares of company stock valued at $1,178,730. 12.50% of the stock is currently owned by company insiders.
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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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