Bank of America cut shares of Clovis Oncology (NASDAQ:CLVS) from a buy rating to a neutral rating in a report released on Tuesday morning, BenzingaRatingsTable reports. They currently have $7.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $13.00.
Several other research firms have also recently issued reports on CLVS. Royal Bank of Canada set a $26.00 target price on shares of Clovis Oncology and gave the company a buy rating in a research note on Friday, August 2nd. Guggenheim cut shares of Clovis Oncology from a buy rating to a neutral rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. reiterated a hold rating and issued a $27.00 target price on shares of Clovis Oncology in a research note on Monday, June 3rd. Credit Suisse Group reiterated a buy rating and issued a $29.00 target price on shares of Clovis Oncology in a research note on Wednesday, May 15th. Finally, Zacks Investment Research cut shares of Clovis Oncology from a buy rating to a hold rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $25.09.
Shares of NASDAQ CLVS opened at $5.60 on Tuesday. The company has a debt-to-equity ratio of 8.04, a quick ratio of 3.32 and a current ratio of 3.57. Clovis Oncology has a 12 month low of $4.98 and a 12 month high of $37.27. The company has a 50 day simple moving average of $10.96 and a two-hundred day simple moving average of $18.78.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($2.27) EPS for the quarter, missing the consensus estimate of ($1.70) by ($0.57). Clovis Oncology had a negative net margin of 332.18% and a negative return on equity of 372.68%. The business had revenue of $32.98 million for the quarter, compared to analyst estimates of $34.92 million. During the same quarter in the previous year, the firm posted ($1.94) earnings per share. The business’s revenue was up 38.8% on a year-over-year basis. Equities research analysts forecast that Clovis Oncology will post -7.44 earnings per share for the current year.
In related news, Director Thorlef Spickschen acquired 8,600 shares of Clovis Oncology stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $5.67 per share, for a total transaction of $48,762.00. Following the completion of the transaction, the director now owns 58,176 shares of the company’s stock, valued at approximately $329,857.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lindsey Rolfe sold 1,728 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $14.70, for a total transaction of $25,401.60. Following the transaction, the insider now owns 23,319 shares of the company’s stock, valued at $342,789.30. The disclosure for this sale can be found here. Insiders have sold 2,452 shares of company stock valued at $36,261 over the last 90 days. 8.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP acquired a new position in Clovis Oncology during the fourth quarter worth $5,641,000. Norges Bank purchased a new stake in shares of Clovis Oncology during the fourth quarter worth $8,351,000. Rice Hall James & Associates LLC grew its holdings in shares of Clovis Oncology by 5.6% during the first quarter. Rice Hall James & Associates LLC now owns 222,165 shares of the biopharmaceutical company’s stock worth $5,514,000 after buying an additional 11,743 shares in the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Clovis Oncology during the second quarter worth $186,000. Finally, Legal & General Group Plc grew its holdings in shares of Clovis Oncology by 29.9% during the fourth quarter. Legal & General Group Plc now owns 20,457 shares of the biopharmaceutical company’s stock worth $368,000 after buying an additional 4,711 shares in the last quarter. Institutional investors own 91.54% of the company’s stock.
Clovis Oncology Company Profile
Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.
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