Stifel Nicolaus Boosts Clovis Oncology Inc. (CLVS) Price Target to $45.00
Clovis Oncology Inc. (NASDAQ:CLVS) had its price objective hoisted by analysts at Stifel Nicolaus from $30.00 to $45.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price points to a potential upside of 29.20% from the company’s previous close.
Several other analysts have also recently commented on CLVS. Vetr cut Clovis Oncology from a “strong-buy” rating to a “buy” rating and set a $17.66 target price on the stock. in a report on Wednesday, May 25th. Credit Suisse Group AG reiterated a “hold” rating on shares of Clovis Oncology in a report on Wednesday, June 8th. Piper Jaffray Cos. reiterated a “hold” rating and issued a $14.00 target price on shares of Clovis Oncology in a report on Wednesday, June 29th. SunTrust Banks Inc. assumed coverage on Clovis Oncology in a report on Friday, August 5th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $13.00 price target on shares of Clovis Oncology in a report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $33.36.
Clovis Oncology (NASDAQ:CLVS) opened at 34.83 on Wednesday. Clovis Oncology has a one year low of $11.57 and a one year high of $109.18. The company’s 50-day moving average is $22.24 and its 200-day moving average is $17.16. The firm’s market capitalization 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) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.13) by $0.06. During the same period in the prior year, the firm earned ($2.10) earnings per share. Equities analysts forecast that Clovis Oncology will post ($9.32) earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in Clovis Oncology by 2,075.9% in the second quarter. Royal Bank of Canada now owns 18,212 shares of the biopharmaceutical company’s stock worth $250,000 after buying an additional 17,375 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Clovis Oncology by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 105,186 shares of the biopharmaceutical company’s stock worth $1,444,000 after buying an additional 3,444 shares during the last quarter. Palo Alto Investors LLC raised its stake in Clovis Oncology by 9.9% in the second quarter. Palo Alto Investors LLC now owns 3,804,088 shares of the biopharmaceutical company’s stock worth $52,192,000 after buying an additional 342,723 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Clovis Oncology by 24.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 24,046 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 4,795 shares during the last quarter. Finally, Iguana Healthcare Management LLC bought a new stake in Clovis Oncology during the second quarter worth approximately $1,235,000. 98.46% of the stock is 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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