Clovis Oncology, Inc. (CLVS) Receives “Outperform” Rating from Credit Suisse Group

Credit Suisse Group reiterated their outperform rating on shares of Clovis Oncology, Inc. (NASDAQ:CLVS) in a research note published on Friday, Marketbeat.com reports. They currently have a $88.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $74.00.

Other analysts have also recently issued reports about the stock. Piper Jaffray Companies set a $77.00 target price on shares of Clovis Oncology and gave the stock a buy rating in a report on Tuesday, March 28th. Bank of America Corporation reissued a buy rating and set a $75.00 target price on shares of Clovis Oncology in a report on Wednesday, May 17th. J P Morgan Chase & Co set a $72.00 target price on shares of Clovis Oncology and gave the stock a buy rating in a report on Thursday, June 1st. ValuEngine raised shares of Clovis Oncology from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) increased their price objective on shares of Clovis Oncology from $44.00 to $75.00 and gave the stock a neutral rating in a report on Wednesday, March 15th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $66.87.

Clovis Oncology (NASDAQ CLVS) traded up 50.51% on Friday, reaching $90.26. 255,501 shares of the company’s stock were exchanged. The firm’s market capitalization is $4.04 billion. Clovis Oncology has a 1-year low of $11.57 and a 1-year high of $91.00. The stock’s 50 day moving average price is $54.46 and its 200 day moving average price is $55.14.

Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.43) by $0.10. The business had revenue of $7.05 million for the quarter, compared to analyst estimates of $6.04 million. On average, analysts expect that Clovis Oncology will post ($4.95) earnings per share for the current year.

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In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $61.82, for a total transaction of $185,460.00. Following the transaction, the insider now owns 200,583 shares of the company’s stock, valued at approximately $12,400,041.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 9,000 shares of company stock worth $495,690. 17.40% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Palo Alto Investors LLC raised its position in Clovis Oncology by 2.4% in the first quarter. Palo Alto Investors LLC now owns 3,894,963 shares of the biopharmaceutical company’s stock valued at $247,992,000 after buying an additional 90,875 shares during the period. Vanguard Group Inc. raised its position in Clovis Oncology by 25.3% in the first quarter. Vanguard Group Inc. now owns 3,285,195 shares of the biopharmaceutical company’s stock valued at $209,169,000 after buying an additional 662,969 shares during the period. State Street Corp raised its position in Clovis Oncology by 93.7% in the fourth quarter. State Street Corp now owns 2,141,663 shares of the biopharmaceutical company’s stock valued at $95,131,000 after buying an additional 1,035,917 shares during the period. FMR LLC raised its position in Clovis Oncology by 271.4% in the first quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock valued at $115,679,000 after buying an additional 1,327,703 shares during the period. Finally, Wellington Management Group LLP raised its position in Clovis Oncology by 10,143.6% in the first quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company’s stock valued at $84,788,000 after buying an additional 1,318,669 shares during the period. Institutional investors own 97.55% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CLVS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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