Clovis Oncology Inc. (NASDAQ:CLVS) has been given a consensus recommendation of “Buy” by the twelve research firms that are covering the company. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $38.06.
CLVS has been the topic of several research analyst reports. SunTrust Banks Inc. increased their target price on shares of Clovis Oncology from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, September 23rd. Zacks Investment Research downgraded shares of Clovis Oncology from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Credit Suisse Group AG restated an “outperform” rating and set a $41.00 price objective on shares of Clovis Oncology in a report on Monday. Piper Jaffray Cos. restated a “neutral” rating and set a $14.00 price objective on shares of Clovis Oncology in a report on Thursday, August 25th. Finally, Janney Montgomery Scott downgraded shares of Clovis Oncology from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $35.00 to $36.00 in a report on Wednesday, September 21st.
Several hedge funds have recently made changes to their positions in CLVS. Parametric Portfolio Associates LLC acquired a new stake in shares of Clovis Oncology during the second quarter worth approximately $144,000. Fox Run Management L.L.C. acquired a new stake in shares of Clovis Oncology during the second quarter worth approximately $154,000. Creative Planning boosted its stake in shares of Clovis Oncology by 524.4% in the third quarter. Creative Planning now owns 11,638 shares of the biopharmaceutical company’s stock worth $420,000 after buying an additional 9,774 shares during the period. CIBC World Markets Inc. boosted its stake in shares of Clovis Oncology by 7.8% in the first quarter. CIBC World Markets Inc. now owns 11,680 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 850 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Clovis Oncology during the first quarter worth approximately $233,000. Hedge funds and other institutional investors own 98.46% of the company’s stock.
Clovis Oncology (NASDAQ:CLVS) traded down 0.34% during midday trading on Thursday, reaching $32.57. 1,057,655 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $30.54 and its 200 day moving average price is $18.97. Clovis Oncology has a 1-year low of $11.57 and a 1-year high of $109.18. The firm’s market cap is $1.25 billion.
Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.13) by $0.06. During the same quarter in the prior year, the business earned ($2.10) EPS. Equities research analysts anticipate that Clovis Oncology will post ($9.25) EPS for the current 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 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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