A number of other equities research analysts also recently commented on the company. Vetr raised Clovis Oncology from a sell rating to a strong-buy rating and set a $49.00 target price for the company in a report on Tuesday, December 20th. Credit Suisse Group AG reaffirmed an outperform rating on shares of Clovis Oncology in a report on Wednesday, January 18th. Bank of America Corp started coverage on Clovis Oncology in a report on Friday, January 27th. They set a buy rating and a $74.00 target price for the company. Piper Jaffray Companies raised Clovis Oncology from a neutral rating to an overweight rating and set a $77.00 target price for the company in a report on Thursday, January 26th. Finally, Stifel Nicolaus lifted their target price on Clovis Oncology from $52.00 to $86.00 and gave the stock a buy rating in a report on Monday, January 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Clovis Oncology currently has an average rating of Buy and a consensus price target of $62.33.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 71.32 on Wednesday. The firm’s 50-day moving average is $62.74 and its 200-day moving average is $43.67. Clovis Oncology has a one year low of $11.57 and a one year high of $74.94. The stock’s market capitalization is $3.18 billion.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Wednesday, February 22nd. The biopharmaceutical company reported ($1.83) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.65) by $0.18. The company earned $0.08 million during the quarter. During the same quarter in the prior year, the business earned ($3.12) earnings per share. Equities research analysts forecast that Clovis Oncology will post ($5.31) EPS for the current year.
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In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $66.99, for a total value of $200,970.00. Following the completion of the transaction, the insider now directly owns 209,583 shares of the company’s stock, valued at $14,039,965.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of Clovis Oncology during the third quarter worth about $103,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Clovis Oncology by 20.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,400 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 400 shares during the last quarter. DIAM Co. Ltd. bought a new position in shares of Clovis Oncology during the third quarter worth about $168,000. M&T Bank Corp bought a new position in shares of Clovis Oncology during the third quarter worth about $207,000. Finally, Alpine Woods Capital Investors LLC bought a new position in shares of Clovis Oncology during the third quarter worth about $216,000. 88.48% of the stock is 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 is developing approximately three product candidates: Rociletinib, Rucaparib and Lucitanib. Rociletinib is an oral epidermal growth factor receptor (EGFR), mutant-selective covalent inhibitor that is under review with the United States and European regulatory authorities for the treatment of non-small cell lung cancer (NSCLC) in patients with activating EGFR mutations, as well as the resistance mutation, T790M.
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