Credit Suisse Group AG Upgrades Clovis Oncology Inc. (CLVS) to Outperform
Clovis Oncology Inc. (NASDAQ:CLVS) was upgraded by stock analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday. The firm currently has a $41.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $19.00. Credit Suisse Group AG’s price objective suggests a potential upside of 17.71% from the stock’s current price.
A number of other equities analysts have also issued reports on CLVS. Vetr lowered shares of Clovis Oncology from a “strong-buy” rating to a “buy” rating and set a $17.66 target price on the stock. in a research report on Wednesday, May 25th. Piper Jaffray Cos. reiterated a “hold” rating and set a $14.00 target price on shares of Clovis Oncology in a research report on Wednesday, June 29th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective on shares of Clovis Oncology in a report on Thursday, June 30th. SunTrust Banks Inc. started coverage on shares of Clovis Oncology in a report 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 report on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.11.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 34.83 on Wednesday. Clovis Oncology has a 52 week low of $11.57 and a 52 week high of $109.18. The firm’s 50 day moving average is $22.24 and its 200-day moving average is $17.16. The firm’s market cap is $1.34 billion.
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Clovis Oncology (NASDAQ:CLVS) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($2.13) by $0.06. During the same quarter last year, the business earned ($2.10) EPS. Equities research analysts predict that Clovis Oncology will post ($9.32) EPS for the current year.
Several large investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC bought a new stake in shares of Clovis Oncology during the second quarter valued at about $144,000. Fox Run Management L.L.C. bought a new stake in shares of Clovis Oncology during the second quarter valued at about $154,000. 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 valued at $164,000 after buying an additional 3,072 shares in the last quarter. 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 valued at $224,000 after buying an additional 850 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Clovis Oncology during the first quarter valued at about $233,000. 98.46% of the stock is owned by institutional investors.
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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