Other research analysts also recently issued reports about the stock. SunTrust Banks Inc. upped their target price on shares of Clovis Oncology from $25.00 to $30.00 and gave the company a buy rating in a research report on Wednesday, August 24th. Zacks Investment Research upgraded shares of Clovis Oncology from a hold rating to a buy rating and set a $18.00 target price on the stock in a research report on Thursday, August 11th. JPMorgan Chase & Co. restated a hold rating and set a $13.00 target price on shares of Clovis Oncology in a research report on Tuesday, August 9th. Credit Suisse Group AG restated a hold rating on shares of Clovis Oncology in a research report on Wednesday, June 8th. Finally, Vetr downgraded shares of Clovis Oncology from a buy rating to a hold rating and set a $17.66 target price on the stock. in a research report on Tuesday, June 7th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $34.06.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 29.41 on Wednesday. The firm’s market capitalization is $1.13 billion. Clovis Oncology has a 12-month low of $11.57 and a 12-month high of $109.18. The company’s 50 day moving average is $29.42 and its 200 day moving average is $18.69.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.13) by $0.06. During the same quarter last year, the company earned ($2.10) EPS. On average, analysts forecast that Clovis Oncology will post ($9.25) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of CLVS. Boxer Capital LLC acquired a new stake in Clovis Oncology during the second quarter worth about $6,174,000. Palo Alto Investors LLC boosted its stake in Clovis Oncology by 9.9% in the second quarter. Palo Alto Investors LLC now owns 3,804,088 shares of the biopharmaceutical company’s stock worth $52,192,000 after buying an additional 342,723 shares during the last quarter. State Street Corp boosted its stake in Clovis Oncology by 21.2% in the first quarter. State Street Corp now owns 1,797,874 shares of the biopharmaceutical company’s stock worth $34,525,000 after buying an additional 313,893 shares during the last quarter. Norges Bank acquired a new stake in Clovis Oncology during the fourth quarter worth about $7,790,000. Finally, Vanguard Group Inc. boosted its stake in Clovis Oncology by 7.7% in the second quarter. Vanguard Group Inc. now owns 2,405,468 shares of the biopharmaceutical company’s stock worth $33,003,000 after buying an additional 171,047 shares during the last quarter. 98.46% of the stock is owned by institutional investors and hedge funds.
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 is developing approximately three product candidates: Rociletinib, Rucaparib and Lucitanib. Rociletinib is an oral epidermal growth factor receptor (EGFR), mutant-selective covalent inhibitor that is under review with the United States and European regulatory authorities for the treatment of non-small cell lung cancer (NSCLC) in patients with activating EGFR mutations, as well as the resistance mutation, T790M.
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