Janney Montgomery Scott Lowers Clovis Oncology Inc. (CLVS) to Neutral
Clovis Oncology Inc. (NASDAQ:CLVS) was downgraded by analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday.
Other analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price objective on shares of Clovis Oncology in a research report on Thursday, June 30th. SunTrust Banks Inc. initiated coverage on Clovis Oncology in a research report on Friday, August 5th. They issued a “buy” rating and a $25.00 price objective for the company. Zacks Investment Research upgraded Clovis Oncology from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, August 11th. Vetr downgraded Clovis Oncology from a “strong-buy” rating to a “buy” rating and set a $17.66 price objective for the company. in a research report on Wednesday, May 25th. Finally, Piper Jaffray Cos. set a $14.00 price objective on Clovis Oncology and gave the stock a “hold” rating in a research report on Thursday, August 18th. Six research 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 company. The company presently has a consensus rating of “Buy” and a consensus target price of $33.36.
Clovis Oncology (NASDAQ:CLVS) traded down 2.61% on Wednesday, hitting $33.92. The stock had a trading volume of 7,751,036 shares. The firm’s 50-day moving average price is $22.24 and its 200-day moving average price is $17.16. Clovis Oncology has a 1-year low of $11.57 and a 1-year high of $109.18. The firm’s market cap is $1.31 billion.
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Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($2.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.13) by $0.06. During the same period in the prior year, the company posted ($2.10) earnings per share. On average, equities research analysts predict that Clovis Oncology will post ($9.32) earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new stake in Clovis Oncology during the second quarter valued at approximately $154,000. Kazazian Asset Management LLC purchased a new stake in Clovis Oncology during the first quarter valued at approximately $282,000. Bellevue Group AG purchased a new stake in Clovis Oncology during the first quarter valued at approximately $1,008,000. Schonfeld Strategic Advisors LLC purchased a new stake in Clovis Oncology during the first quarter valued at approximately $233,000. Finally, Boston Partners purchased a new stake in Clovis Oncology during the second quarter valued at approximately $1,540,000. 98.46% 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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