Credit Suisse Group AG Reiterates “Outperform” Rating for Clovis Oncology Inc. (CLVS)
Clovis Oncology Inc. (NASDAQ:CLVS)‘s stock had its “outperform” rating reissued by Credit Suisse Group AG in a research note issued on Monday. They currently have a $41.00 price objective on the biopharmaceutical company’s stock. Credit Suisse Group AG’s price target points to a potential upside of 27.57% from the company’s current price.
A number of other equities research analysts also recently commented on the company. Stifel Nicolaus set a $45.00 price objective on Clovis Oncology and gave the company a “buy” rating in a report on Wednesday, October 5th. SunTrust Banks Inc. started coverage on Clovis Oncology in a report on Friday, August 5th. They issued a “buy” rating and a $25.00 price objective for the company. Piper Jaffray Cos. set a $14.00 price objective on Clovis Oncology and gave the company a “hold” rating in a report on Thursday, August 18th. 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 report on Thursday, August 11th. Finally, JPMorgan Chase & Co. restated a “hold” rating and issued a $13.00 price target on shares of Clovis Oncology in a report on Tuesday, August 9th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $34.06.
Shares of Clovis Oncology (NASDAQ:CLVS) traded up 9.3509% during midday trading on Monday, reaching $32.1601. The company’s stock had a trading volume of 4,552,407 shares. The company’s market cap is $1.24 billion. Clovis Oncology has a 12 month low of $11.57 and a 12 month high of $109.18. The stock has a 50-day moving average of $29.42 and a 200 day moving average of $18.69.
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 https://www.americanbankingnews.com/2016/10/10/credit-suisse-group-ag-reiterates-outperform-rating-for-clovis-oncology-inc-clvs.html
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($2.07) EPS for the quarter, beating analysts’ consensus estimates of ($2.13) by $0.06. During the same period in the prior year, the company posted ($2.10) earnings per share. On average, analysts predict that Clovis Oncology will post ($9.25) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of CLVS. Boxer Capital LLC bought a new position in shares of Clovis Oncology during the second quarter valued at approximately $6,174,000. Palo Alto Investors LLC boosted its position in shares of 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 valued at $52,192,000 after buying an additional 342,723 shares during the period. State Street Corp boosted its position in shares of Clovis Oncology by 21.2% in the first quarter. State Street Corp now owns 1,797,874 shares of the biopharmaceutical company’s stock valued at $34,525,000 after buying an additional 313,893 shares during the period. Norges Bank bought a new position in shares of Clovis Oncology during the fourth quarter valued at approximately $7,790,000. Finally, Vanguard Group Inc. boosted its position in shares of Clovis Oncology by 7.7% in the second quarter. Vanguard Group Inc. now owns 2,405,468 shares of the biopharmaceutical company’s stock valued at $33,003,000 after buying an additional 171,047 shares during the period. 98.46% of the stock is owned by hedge funds and other 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.
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.