ValuEngine lowered shares of Clovis Oncology Inc (NASDAQ:CLVS) from a hold rating to a sell rating in a research report report published on Friday morning.
Several other research analysts also recently issued reports on CLVS. Stifel Nicolaus upped their price objective on Clovis Oncology from $52.00 to $86.00 and gave the company a buy rating in a research note on Monday, January 23rd. They noted that the move was a valuation call. Piper Jaffray Companies raised Clovis Oncology from a neutral rating to an overweight rating and set a $77.00 price objective for the company in a research note on Thursday, January 26th. Bank of America Corp initiated coverage on Clovis Oncology in a research note on Friday, January 27th. They issued a buy rating and a $74.00 price objective for the company. Chardan Capital downgraded Clovis Oncology from a neutral rating to a sell rating and set a $36.00 price objective for the company. in a research note on Friday, February 3rd. Finally, Zacks Investment Research raised shares of Clovis Oncology from a hold rating to a buy rating and set a $68.00 target price for the company in a research report on Tuesday, February 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $60.79.
Shares of Clovis Oncology (NASDAQ:CLVS) traded down 0.34% on Friday, hitting $55.29. 40,601 shares of the stock traded hands. The stock has a 50 day moving average of $53.81 and a 200-day moving average of $52.53. Clovis Oncology has a 1-year low of $11.57 and a 1-year high of $74.94. The stock’s market cap is $2.48 billion.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Wednesday, May 3rd. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.43) by $0.10. The firm had revenue of $7.05 million during the quarter, compared to analyst estimates of $6.04 million. On average, equities research analysts expect that Clovis Oncology will post ($4.95) 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 stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $47.39, for a total transaction of $142,170.00. Following the transaction, the insider now directly owns 203,583 shares in the company, valued at approximately $9,647,798.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 9,000 shares of company stock worth $511,200 over the last 90 days. Company insiders own 17.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Clovis Oncology by 271.4% in the first quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock worth $115,679,000 after buying an additional 1,327,703 shares during the last quarter. Wellington Management Group LLP boosted its position in Clovis Oncology by 10,143.6% in the first quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company’s stock worth $84,788,000 after buying an additional 1,318,669 shares during the last quarter. State Street Corp boosted its position in Clovis Oncology by 93.7% in the fourth quarter. State Street Corp now owns 2,141,663 shares of the biopharmaceutical company’s stock worth $95,131,000 after buying an additional 1,035,917 shares during the last quarter. Alliancebernstein L.P. boosted its position in Clovis Oncology by 1,538.0% in the first quarter. Alliancebernstein L.P. now owns 754,122 shares of the biopharmaceutical company’s stock worth $48,015,000 after buying an additional 708,082 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Clovis Oncology by 25.3% in the first quarter. Vanguard Group Inc. now owns 3,285,195 shares of the biopharmaceutical company’s stock worth $209,169,000 after buying an additional 662,969 shares during the last quarter. Hedge funds and other institutional investors own 88.48% of the company’s stock.
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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