Clovis Oncology Inc. (CLVS) Downgraded to “Neutral” at Janney Montgomery Scott
Clovis Oncology Inc. (NASDAQ:CLVS) was downgraded by Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued on Wednesday.
Several other equities analysts also recently weighed in on CLVS. Vetr downgraded Clovis Oncology from a “strong-buy” rating to a “buy” rating and set a $17.66 price target for the company. in a report on Wednesday, May 25th. Credit Suisse Group AG restated a “hold” rating on shares of Clovis Oncology in a report on Wednesday, June 8th. Piper Jaffray Cos. restated a “hold” rating and set a $14.00 price target on shares of Clovis Oncology in a report on Wednesday, June 29th. Stifel Nicolaus restated a “buy” rating and set a $30.00 price target on shares of Clovis Oncology in a report on Thursday, June 30th. Finally, SunTrust Banks Inc. began coverage on Clovis Oncology in a report on Friday, August 5th. They issued a “buy” rating and a $25.00 price objective for the company. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $33.36.
Shares of Clovis Oncology (NASDAQ:CLVS) traded up 1.09% during midday trading on Wednesday, hitting $35.21. The stock had a trading volume of 5,872,111 shares. The stock’s 50 day moving average price is $22.24 and its 200 day moving average price is $17.16. Clovis Oncology has a 12 month low of $11.57 and a 12 month high of $109.18. The firm’s market cap is $1.36 billion.
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Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, beating the consensus estimate of ($2.13) by $0.06. During the same period in the prior year, the company earned ($2.10) EPS. On average, equities analysts forecast that Clovis Oncology will post ($9.32) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in Clovis Oncology by 56.8% in the first quarter. Legal & General Group Plc now owns 8,483 shares of the biopharmaceutical company’s stock worth $164,000 after buying an additional 3,072 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in Clovis Oncology during the second quarter worth $144,000. Fox Run Management L.L.C. bought a new position in Clovis Oncology during the second quarter worth $154,000. CIBC World Markets Inc. boosted its position in Clovis Oncology by 7.8% in the first quarter. CIBC World Markets Inc. now owns 11,680 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 850 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Clovis Oncology during the first quarter worth $233,000. 98.46% of the stock is currently owned by institutional investors and hedge funds.
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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