Clovis Oncology, Inc. (NASDAQ:CLVS)‘s stock had its “hold” rating reiterated by research analysts at Oppenheimer Holdings, Inc. in a report issued on Monday.
Other research analysts have also issued research reports about the stock. 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 research note on Thursday, June 1st. Bank of America Corporation reissued a “buy” rating and set a $75.00 price target on shares of Clovis Oncology in a research report on Wednesday, May 17th. Stifel Nicolaus increased their price target on shares of Clovis Oncology from $86.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. Janney Montgomery Scott raised shares of Clovis Oncology from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, BidaskClub raised shares of Clovis Oncology from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Clovis Oncology has a consensus rating of “Buy” and an average price target of $85.16.
Shares of Clovis Oncology (CLVS) opened at 70.61 on Monday. The company’s market cap is $3.45 billion. Clovis Oncology has a one year low of $25.50 and a one year high of $99.45. The company’s 50-day moving average is $76.27 and its 200-day moving average is $68.61.
Clovis Oncology (NASDAQ:CLVS) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.27) by ($0.02). The business had revenue of $14.62 million for the quarter, compared to the consensus estimate of $13.07 million. Clovis Oncology’s revenue for the quarter was down 32.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.07) earnings per share. On average, equities analysts predict that Clovis Oncology will post ($7.53) EPS for the current year.
In other Clovis Oncology news, Director James C. Blair sold 18,450 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $78.61, for a total transaction of $1,450,354.50. Following the sale, the director now owns 2,185 shares of the company’s stock, valued at $171,762.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $91.56, for a total transaction of $274,680.00. Following the sale, the insider now directly owns 197,583 shares in the company, valued at approximately $18,090,699.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,450 shares of company stock worth $2,120,645. 17.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CLVS. Nationwide Fund Advisors raised its holdings in Clovis Oncology by 11.7% during the first quarter. Nationwide Fund Advisors now owns 42,870 shares of the biopharmaceutical company’s stock worth $2,730,000 after purchasing an additional 4,485 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $115,000. Shell Asset Management Co. purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $489,000. Strs Ohio purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $896,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Clovis Oncology during the first quarter worth approximately $1,890,000. 98.94% of the stock is currently owned by 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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