Stifel Nicolaus Increases Clovis Oncology Inc. (CLVS) Price Target to $45.00
Clovis Oncology Inc. (NASDAQ:CLVS) had its price objective boosted by equities research analysts at Stifel Nicolaus from $30.00 to $45.00 in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 29.20% from the company’s previous close.
A number of other research firms have also commented on CLVS. SunTrust Banks Inc. initiated coverage on shares of Clovis Oncology in a research report on Friday, August 5th. They issued a “buy” rating and a $25.00 price target on the stock. 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. Vetr raised shares of Clovis Oncology from a “buy” rating to a “strong-buy” rating and set a $17.71 target price on the stock in a research report on Thursday, June 9th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Clovis Oncology in a research report on Tuesday, July 12th. Finally, Zacks Investment Research raised shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $33.36.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 34.83 on Wednesday. The firm’s market cap is $1.34 billion. Clovis Oncology has a 12-month low of $11.57 and a 12-month high of $109.18. The company has a 50 day moving average of $22.24 and a 200-day moving average of $17.16.
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Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.13) by $0.06. During the same quarter in the prior year, the business posted ($2.10) earnings per share. Equities research analysts forecast that Clovis Oncology will post ($9.32) EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Rhenman & Partners Asset Management raised its stake in Clovis Oncology by 69.8% in the fourth quarter. Rhenman & Partners Asset Management now owns 73,000 shares of the biopharmaceutical company’s stock valued at $2,555,000 after buying an additional 30,000 shares during the last quarter. Verde Servico Internacionais purchased a new stake in Clovis Oncology during the fourth quarter valued at $4,931,000. Cypress Capital Management LLC WY raised its stake in Clovis Oncology by 16.3% in the fourth quarter. Cypress Capital Management LLC WY now owns 22,910 shares of the biopharmaceutical company’s stock valued at $802,000 after buying an additional 3,210 shares during the last quarter. Oxford Asset Management raised its stake in Clovis Oncology by 344.0% in the fourth quarter. Oxford Asset Management now owns 93,893 shares of the biopharmaceutical company’s stock valued at $3,304,000 after buying an additional 72,748 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in Clovis Oncology by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 51,609 shares of the biopharmaceutical company’s stock valued at $1,806,000 after buying an additional 889 shares during the last quarter. 98.46% of the stock is currently owned by institutional investors and hedge funds.
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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