Leerink Swann reaffirmed their outperform rating on shares of Clovis Oncology, Inc. (NASDAQ:CLVS) in a report published on Wednesday morning. The brokerage currently has a $90.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $107.00.
Several other equities analysts also recently commented on the stock. Credit Suisse Group set a $107.00 price target on shares of Clovis Oncology and gave the company a buy rating in a research note on Tuesday, July 18th. Barclays PLC initiated coverage on shares of Clovis Oncology in a research note on Monday, October 23rd. They set an overweight rating and a $105.00 price objective on the stock. Royal Bank Of Canada initiated coverage on shares of Clovis Oncology in a research note on Thursday, September 14th. They set a sector perform rating and a $81.00 price objective on the stock. Cann reiterated a hold rating on shares of Clovis Oncology in a research note on Monday, September 11th. Finally, Zacks Investment Research upgraded shares of Clovis Oncology from a hold rating to a buy rating and set a $95.00 price objective on the stock in a research note on Tuesday, October 17th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Clovis Oncology currently has an average rating of Buy and an average target price of $86.15.
Clovis Oncology (NASDAQ CLVS) traded up $2.32 during trading hours on Wednesday, hitting $66.88. 1,158,804 shares of the company’s stock traded hands, compared to its average volume of 1,860,937. Clovis Oncology has a 12-month low of $33.23 and a 12-month high of $99.45. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.16 and a current ratio of 3.19.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.06). Clovis Oncology had a negative net margin of 947.47% and a negative return on equity of 122.06%. The company had revenue of $16.81 million during the quarter, compared to analyst estimates of $21.12 million. During the same quarter in the prior year, the firm earned ($1.70) earnings per share. analysts predict that Clovis Oncology will post -7.31 earnings per share for the current fiscal year.
In related news, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $84.54, for a total value of $253,620.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 9,000 shares of company stock valued at $653,220. 12.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CLVS. Capital Analysts LLC bought a new position in Clovis Oncology in the 3rd quarter valued at approximately $111,000. Phocas Financial Corp. acquired a new stake in Clovis Oncology during the 2nd quarter valued at approximately $112,000. Cypress Capital Management LLC WY increased its position in Clovis Oncology by 272.7% during the 3rd quarter. Cypress Capital Management LLC WY now owns 2,050 shares of the biopharmaceutical company’s stock valued at $169,000 after purchasing an additional 1,500 shares during the period. Advisors Asset Management Inc. increased its position in Clovis Oncology by 160.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,895 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 1,168 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Clovis Oncology by 3.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,800 shares of the biopharmaceutical company’s stock valued at $179,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 98.53% 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.
Receive News & Ratings for Clovis Oncology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clovis Oncology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.