Clovis Oncology (NASDAQ:CLVS) had its price target cut by equities researchers at Stifel Nicolaus from $125.00 to $110.00 in a report released on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 98.16% from the stock’s current price.
Several other research firms have also weighed in on CLVS. Morgan Stanley dropped their price objective on shares of Clovis Oncology from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Leerink Swann reiterated an “outperform” rating and set a $90.00 price objective (down previously from $107.00) on shares of Clovis Oncology in a research note on Wednesday, November 15th. ValuEngine lowered shares of Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. BidaskClub upgraded shares of Clovis Oncology from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 9th. Finally, Oppenheimer reiterated a “hold” rating on shares of Clovis Oncology in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. Clovis Oncology presently has a consensus rating of “Buy” and an average target price of $88.03.
Shares of Clovis Oncology (NASDAQ:CLVS) traded down $1.33 during trading on Tuesday, hitting $55.51. 1,442,100 shares of the stock were exchanged, compared to its average volume of 1,342,742. The firm has a market cap of $2,720.00, a price-to-earnings ratio of -6.70 and a beta of 1.05. The company has a current ratio of 3.19, a quick ratio of 3.16 and a debt-to-equity ratio of 0.94. Clovis Oncology has a 1-year low of $45.42 and a 1-year high of $99.45.
In related news, Director Thorlef Spickschen sold 4,500 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $64.97, for a total transaction of $292,365.00. Following the completion of the sale, the director now directly owns 21,118 shares of the company’s stock, valued at $1,372,036.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $64.16, for a total transaction of $192,480.00. Following the sale, the insider now directly owns 182,583 shares of the company’s stock, valued at $11,714,525.28. The disclosure for this sale can be found here. Insiders sold 22,500 shares of company stock valued at $1,364,595 over the last quarter. Insiders own 12.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Palo Alto Investors LLC lifted its stake in Clovis Oncology by 2.2% during the fourth quarter. Palo Alto Investors LLC now owns 3,402,781 shares of the biopharmaceutical company’s stock valued at $231,389,000 after purchasing an additional 73,200 shares during the last quarter. Franklin Resources Inc. lifted its stake in Clovis Oncology by 13.8% during the fourth quarter. Franklin Resources Inc. now owns 2,634,401 shares of the biopharmaceutical company’s stock valued at $179,138,000 after purchasing an additional 318,931 shares during the last quarter. Orbimed Advisors LLC lifted its stake in Clovis Oncology by 13.5% during the third quarter. Orbimed Advisors LLC now owns 2,388,670 shares of the biopharmaceutical company’s stock valued at $196,826,000 after purchasing an additional 284,300 shares during the last quarter. Redmile Group LLC lifted its stake in Clovis Oncology by 32.5% during the fourth quarter. Redmile Group LLC now owns 1,320,027 shares of the biopharmaceutical company’s stock valued at $89,762,000 after purchasing an additional 323,417 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Clovis Oncology by 4.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,002,897 shares of the biopharmaceutical company’s stock valued at $68,197,000 after purchasing an additional 41,120 shares during the last quarter.
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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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