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.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/janney-montgomery-scott-lowers-clovis-oncology-inc-clvs-to-neutral.html

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.

5 Day Chart for NASDAQ:CLVS

Receive News & Ratings for Clovis Oncology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clovis Oncology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.