Clovis Oncology Inc. (CLVS) Upgraded to Outperform by Credit Suisse Group AG
Clovis Oncology Inc. (NASDAQ:CLVS) was upgraded by equities research analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday. The brokerage currently has a $41.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $19.00. Credit Suisse Group AG’s target price would indicate a potential upside of 14.91% from the stock’s previous close.
Several other analysts have also issued reports on CLVS. Vetr lowered Clovis Oncology from a “strong-buy” rating to a “buy” rating and set a $17.66 price objective on the stock. in a research note on Wednesday, May 25th. Piper Jaffray Cos. restated a “hold” rating and issued a $14.00 price objective on shares of Clovis Oncology in a research note on Wednesday, June 29th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective on shares of Clovis Oncology in a research note on Thursday, June 30th. SunTrust Banks Inc. initiated coverage on Clovis Oncology in a research note on Friday, August 5th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, JPMorgan Chase & Co. restated a “hold” rating and issued a $13.00 price objective on shares of Clovis Oncology in a research note on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Clovis Oncology currently has a consensus rating of “Buy” and a consensus target price of $32.20.
Shares of Clovis Oncology (NASDAQ:CLVS) traded up 2.44% on Wednesday, hitting $35.68. The stock had a trading volume of 12,814,282 shares. The company’s market cap is $1.37 billion. Clovis Oncology has a 52 week low of $11.57 and a 52 week high of $109.18. The firm has a 50 day moving average price of $22.24 and a 200-day moving average price of $17.16.
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Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.13) by $0.06. During the same period in the prior year, the business posted ($2.10) EPS. Analysts anticipate that Clovis Oncology will post ($9.32) EPS for the current year.
Large investors have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of 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 in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of Clovis Oncology during the second quarter worth $144,000. Fox Run Management L.L.C. acquired a new stake in shares of Clovis Oncology during the second quarter worth $154,000. CIBC World Markets Inc. increased its stake in shares of 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 in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Clovis Oncology during the first quarter worth $233,000. 98.46% of the stock is currently owned by institutional investors and hedge funds.
Clovis Oncology Company Profile
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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