Cann Reiterates Hold Rating for Clovis Oncology (CLVS)

Clovis Oncology (NASDAQ:CLVS)‘s stock had its “hold” rating reiterated by stock analysts at Cann in a research note issued to investors on Sunday.

The analysts wrote, “The approval of the sNDA is in line with our expectations and supports our anticipated launch in this setting in Q2 2018. We estimate the impact of this approval will account for 56.7% of 2018 sales and will increase to 70.4% of sales in 2022. Therefore, our outlook remains unchanged.””

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CLVS has been the subject of several other reports. BidaskClub cut shares of Clovis Oncology from a “sell” rating to a “strong sell” rating in a research report on Friday, February 9th. JPMorgan Chase reiterated a “buy” rating on shares of Clovis Oncology in a research report on Thursday, January 11th. SunTrust Banks reduced their price target on shares of Clovis Oncology from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Credit Suisse Group set a $86.00 price target on shares of Clovis Oncology and gave the stock a “buy” rating in a report on Thursday, January 18th. They noted that the move was a valuation call. Finally, Royal Bank of Canada upgraded shares of Clovis Oncology from a “sector perform” rating to an “outperform” rating and set a $81.00 price target for the company in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Clovis Oncology currently has an average rating of “Buy” and an average target price of $88.57.

Shares of CLVS traded up $3.07 during trading hours on Friday, hitting $55.52. 3,468,512 shares of the stock were exchanged, compared to its average volume of 806,887. Clovis Oncology has a fifty-two week low of $45.42 and a fifty-two week high of $99.45. The company has a quick ratio of 7.35, a current ratio of 7.69 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2,807.81, a PE ratio of -10.84 and a beta of 0.93.

Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.25. Clovis Oncology had a negative net margin of 624.02% and a negative return on equity of 81.34%. The company had revenue of $17.04 million during the quarter, compared to analysts’ expectations of $19.42 million. During the same period in the prior year, the company posted ($1.83) earnings per share. Clovis Oncology’s revenue for the quarter was up 21746.2% compared to the same quarter last year. sell-side analysts anticipate that Clovis Oncology will post -4.85 EPS for the current fiscal year.

In other Clovis Oncology news, Director Thorlef Spickschen sold 4,500 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $64.97, for a total value of $292,365.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction on 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 directly owns 183,571 shares in the company, valued at $10,860,060.36. The disclosure for this sale can be found here. Insiders sold 19,500 shares of company stock valued at $1,178,730 over the last 90 days. Corporate insiders own 12.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. First Republic Investment Management Inc. bought a new position in shares of Clovis Oncology in the third quarter valued at $251,000. BB&T Securities LLC bought a new position in shares of Clovis Oncology in the third quarter valued at $288,000. Xact Kapitalforvaltning AB bought a new position in shares of Clovis Oncology in the fourth quarter valued at $328,000. Greenwood Capital Associates LLC lifted its stake in shares of Clovis Oncology by 21.6% in the fourth quarter. Greenwood Capital Associates LLC now owns 5,605 shares of the biopharmaceutical company’s stock valued at $381,000 after buying an additional 996 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC lifted its stake in shares of Clovis Oncology by 30.1% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 6,376 shares of the biopharmaceutical company’s stock valued at $434,000 after buying an additional 1,476 shares in the last quarter.

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About Clovis Oncology

Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.

Analyst Recommendations for Clovis Oncology (NASDAQ:CLVS)

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