“With today’s positive recommendation by CHMP on Rubraca, final approval by the EMA could follow in 2Q18. The timing of today’s announcement is basically in line with our expectations; however, we have not included any international sales of Rubraca in our outlook. If approved by the EMA, there could be upside to our outlook starting by 2019.”,” Cann’s analyst commented.
Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Clovis Oncology from a sell rating to a strong sell rating in a report on Friday, February 9th. ValuEngine raised shares of Clovis Oncology from a sell rating to a hold rating in a report on Friday, December 29th. Oppenheimer reaffirmed a hold rating on shares of Clovis Oncology in a report on Wednesday, December 20th. Barclays set a $85.00 target price on shares of Clovis Oncology and gave the stock a buy rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus dropped their target price on shares of Clovis Oncology from $125.00 to $110.00 and set a buy rating for the company in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $87.84.
Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Monday, February 26th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.25. The company had revenue of $17.04 million during the quarter, compared to the consensus estimate of $19.42 million. Clovis Oncology had a negative net margin of 624.02% and a negative return on equity of 81.34%. Clovis Oncology’s quarterly revenue was up 21746.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.83) EPS. sell-side analysts expect that Clovis Oncology will post -4.85 earnings per share for the current fiscal year.
In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $59.16, for a total transaction of $177,480.00. Following the completion of the transaction, the insider now owns 183,571 shares of the company’s stock, valued at approximately $10,860,060.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thorlef Spickschen sold 4,500 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $64.97, for a total transaction of $292,365.00. Following the transaction, the director now directly owns 21,118 shares of the company’s stock, valued at approximately $1,372,036.46. The disclosure for this sale can be found here. Insiders have sold a total of 19,500 shares of company stock valued at $1,178,730 in the last three months. Insiders own 12.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Palo Alto Investors LLC raised its position in shares of Clovis Oncology by 2.2% during the 4th quarter. Palo Alto Investors LLC now owns 3,402,781 shares of the biopharmaceutical company’s stock valued at $231,389,000 after buying an additional 73,200 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Clovis Oncology by 13.8% during the 4th quarter. Franklin Resources Inc. now owns 2,634,401 shares of the biopharmaceutical company’s stock valued at $179,138,000 after buying an additional 318,931 shares in the last quarter. Orbimed Advisors LLC raised its position in shares of Clovis Oncology by 13.5% during the 3rd quarter. Orbimed Advisors LLC now owns 2,388,670 shares of the biopharmaceutical company’s stock valued at $196,826,000 after buying an additional 284,300 shares in the last quarter. Redmile Group LLC raised its position in shares of Clovis Oncology by 32.5% during the 4th quarter. Redmile Group LLC now owns 1,320,027 shares of the biopharmaceutical company’s stock valued at $89,762,000 after buying an additional 323,417 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Clovis Oncology by 4.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,002,897 shares of the biopharmaceutical company’s stock valued at $68,197,000 after buying an additional 41,120 shares in the last quarter.
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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