Goldman Sachs Group Inc Increases Clovis Oncology Inc (CLVS) Price Target to $75.00
Clovis Oncology Inc (NASDAQ:CLVS) had its price objective lifted by Goldman Sachs Group Inc from $44.00 to $75.00 in a research report sent to investors on Wednesday. They currently have a neutral rating on the biopharmaceutical company’s stock.
A number of other research firms have also issued reports on CLVS. Piper Jaffray Companies set a $77.00 price target on Clovis Oncology and gave the company a buy rating in a research report on Tuesday, March 14th. JPMorgan Chase & Co. restated a hold rating on shares of Clovis Oncology in a research report on Wednesday, March 15th. Chardan Capital lowered Clovis Oncology from a neutral rating to a sell rating and set a $36.00 price target for the company. in a research report on Friday, February 3rd. Bank of America Corp began coverage on Clovis Oncology in a research report on Friday, January 27th. They issued a buy rating and a $74.00 price target for the company. Finally, Morgan Stanley upped their price target on Clovis Oncology from $68.00 to $72.00 and gave the company an overweight rating in a research report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Clovis Oncology currently has an average rating of Buy and a consensus target price of $62.33.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 70.05 on Wednesday. The company’s market capitalization is $3.13 billion. The firm’s 50-day moving average price is $62.74 and its 200-day moving average price is $43.67. Clovis Oncology has a 12 month low of $11.57 and a 12 month high of $74.94.
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Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings results on Wednesday, February 22nd. The biopharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.65) by $0.18. The firm earned $0.08 million during the quarter. During the same period last year, the firm earned ($3.12) earnings per share. Equities research analysts expect that Clovis Oncology will post ($5.31) EPS for the current year.
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In related news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $66.99, for a total value of $200,970.00. Following the completion of the transaction, the insider now directly owns 209,583 shares in the company, valued at $14,039,965.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CLVS. Rhumbline Advisers raised its position in shares of Clovis Oncology by 0.8% in the third quarter. Rhumbline Advisers now owns 34,323 shares of the biopharmaceutical company’s stock valued at $1,237,000 after buying an additional 276 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Clovis Oncology by 20.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,400 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares during the last quarter. Bourgeon Capital Management LLC raised its position in shares of Clovis Oncology by 7.2% in the third quarter. Bourgeon Capital Management LLC now owns 14,850 shares of the biopharmaceutical company’s stock valued at $535,000 after buying an additional 1,000 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Clovis Oncology by 1.6% in the third quarter. BlackRock Investment Management LLC now owns 119,281 shares of the biopharmaceutical company’s stock valued at $4,300,000 after buying an additional 1,831 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Clovis Oncology during the third quarter valued at $103,000. Institutional investors own 88.48% of the company’s stock.
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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