Clovis Oncology Inc (NASDAQ:CLVS)‘s stock had its “overweight” rating restated by equities research analysts at Morgan Stanley in a report issued on Thursday. They presently have a $93.00 price objective on the biopharmaceutical company’s stock. Morgan Stanley’s price objective points to a potential upside of 31.02% from the stock’s current price.
Several other brokerages also recently issued reports on CLVS. ValuEngine downgraded Clovis Oncology from a “hold” rating to a “sell” rating in a research report on Friday, May 19th. BidaskClub upgraded Clovis Oncology from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Clovis Oncology in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. started coverage on Clovis Oncology in a research report on Friday, June 23rd. They issued a “market perform” rating for the company. Finally, Cann reiterated a “hold” rating on shares of Clovis Oncology in a research report on Monday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $82.47.
Shares of Clovis Oncology (NASDAQ CLVS) opened at 70.98 on Thursday. The firm’s market capitalization is $3.17 billion. Clovis Oncology has a 12 month low of $15.21 and a 12 month high of $99.45. The firm has a 50-day moving average price of $88.98 and a 200 day moving average price of $66.52.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.27) by $0.02. Clovis Oncology had a negative net margin of 1,199.63% and a negative return on equity of 271.61%. The business had revenue of $14.62 million during the quarter, compared to the consensus estimate of $13.07 million. During the same quarter in the previous year, the firm posted ($2.07) EPS. The company’s revenue for the quarter was down 32.5% compared to the same quarter last year. On average, analysts anticipate that Clovis Oncology will post ($7.15) EPS for the current fiscal year.
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In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $61.82, for a total transaction of $185,460.00. Following the completion of the sale, the insider now owns 200,583 shares in the company, valued at $12,400,041.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James C. Blair sold 18,450 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $78.61, for a total value of $1,450,354.50. Following the sale, the director now owns 2,185 shares of the company’s stock, valued at approximately $171,762.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,450 shares of company stock valued at $2,052,665. 17.40% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Clovis Oncology by 19.9% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 4,225 shares of the biopharmaceutical company’s stock worth $396,000 after buying an additional 700 shares during the period. Sphera Funds Management LTD. bought a new stake in shares of Clovis Oncology during the second quarter worth approximately $8,708,000. Swiss National Bank boosted its stake in shares of Clovis Oncology by 18.6% in the second quarter. Swiss National Bank now owns 76,450 shares of the biopharmaceutical company’s stock worth $7,158,000 after buying an additional 12,000 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Clovis Oncology during the second quarter worth approximately $58,154,000. Finally, Chicago Equity Partners LLC boosted its stake in shares of Clovis Oncology by 117.0% in the second quarter. Chicago Equity Partners LLC now owns 42,360 shares of the biopharmaceutical company’s stock worth $3,966,000 after buying an additional 22,840 shares during the period. 90.67% of the stock is owned by institutional investors and hedge funds.
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’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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