Clovis Oncology, Inc. (NASDAQ:CLVS)‘s stock had its “outperform” rating reissued by research analysts at Credit Suisse Group in a note issued to investors on Friday, Marketbeat.com reports. They currently have a $88.00 target price on the biopharmaceutical company’s stock. Credit Suisse Group’s target price suggests a potential upside of 0.14% from the stock’s current price.
CLVS has been the topic of several other research reports. J P Morgan Chase & Co set a $58.00 target price on Clovis Oncology and gave the stock a “hold” rating in a research note on Thursday, February 23rd. Piper Jaffray Companies set a $77.00 target price on Clovis Oncology and gave the stock a “buy” rating in a research note on Tuesday, March 14th. Morgan Stanley increased their target price on Clovis Oncology from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. Leerink Swann began coverage on Clovis Oncology in a research note on Tuesday, June 13th. They set an “outperform” rating and a $85.00 target price on the stock. Finally, Chardan Capital reissued a “sell” rating and set a $36.00 target price on shares of Clovis Oncology in a research note on Thursday, March 16th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $71.67.
Clovis Oncology (NASDAQ CLVS) traded up 3.840% during mid-day trading on Friday, reaching $91.255. The company’s stock had a trading volume of 1,811,068 shares. The firm’s 50 day moving average price is $55.32 and its 200 day moving average price is $55.82. Clovis Oncology has a 12-month low of $11.57 and a 12-month high of $92.50. The stock’s market cap is $4.09 billion. Clovis Oncology also was the target of some unusual options trading on Monday. Investors bought 11,745 put options on the stock. This is an increase of approximately 519% compared to the average volume of 1,898 put options.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($1.33) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.43) by $0.10. The business had revenue of $7.05 million during the quarter, compared to analyst estimates of $6.04 million. On average, equities analysts predict that Clovis Oncology will post ($5.31) earnings per share for the current year.
In related news, insider Gillian C. Ivers-Read sold 3,000 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $56.02, for a total value of $168,060.00. Following the completion of the sale, the insider now directly owns 206,583 shares of the company’s stock, valued at approximately $11,572,779.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 9,000 shares of company stock valued at $495,690. Insiders own 17.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in CLVS. Palo Alto Investors LLC boosted its stake in shares of 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 worth $247,992,000 after buying an additional 90,875 shares during the period. Vanguard Group Inc. boosted its stake in shares of Clovis Oncology by 25.3% in the first quarter. Vanguard Group Inc. now owns 3,285,195 shares of the biopharmaceutical company’s stock worth $209,169,000 after buying an additional 662,969 shares during the period. State Street Corp boosted its stake in shares of Clovis Oncology by 93.7% in the fourth quarter. State Street Corp now owns 2,141,663 shares of the biopharmaceutical company’s stock worth $95,131,000 after buying an additional 1,035,917 shares during the period. FMR LLC boosted its stake in shares of Clovis Oncology by 271.4% in the first quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock worth $115,679,000 after buying an additional 1,327,703 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of 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 worth $84,788,000 after buying an additional 1,318,669 shares during the period. 97.55% of the stock is owned by hedge funds and other institutional investors.
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.
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