JPMorgan Chase & Co. Reaffirms “Hold” Rating for Clovis Oncology Inc (CLVS)
Other equities analysts also recently issued reports about the company. WallachBeth Capital boosted their price objective on Clovis Oncology from $22.00 to $49.00 and gave the stock a hold rating in a research report on Wednesday, December 21st. Chardan Capital upgraded Clovis Oncology from a sell rating to a neutral rating and boosted their price objective for the stock from $15.00 to $36.00 in a research report on Tuesday, December 20th. Morgan Stanley boosted their price objective on Clovis Oncology from $68.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 23rd. Vetr raised Clovis Oncology from a sell rating to a strong-buy rating and set a $49.00 target price on the stock in a report on Tuesday, December 20th. Finally, Janney Montgomery Scott set a $38.00 target price on Clovis Oncology and gave the stock a hold rating in a report on Tuesday, December 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $62.33.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 70.05 on Wednesday. The firm’s 50-day moving average price is $62.74 and its 200-day moving average price is $43.67. The firm’s market cap is $3.13 billion. Clovis Oncology has a one year low of $11.57 and a one year high of $74.94.
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Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Wednesday, February 22nd. The biopharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.65) by $0.18. The firm earned $0.08 million during the quarter. During the same quarter in the prior year, the firm earned ($3.12) earnings per share. Equities research analysts expect that Clovis Oncology will post ($5.31) earnings per share for the current fiscal year.
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In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $66.99, for a total transaction of $200,970.00. Following the sale, the insider now directly owns 209,583 shares of the company’s stock, valued at approximately $14,039,965.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 17.40% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in CLVS. Norges Bank purchased a new stake in shares of Clovis Oncology during the fourth quarter valued at about $13,155,000. Artal Group S.A. purchased a new stake in shares of Clovis Oncology during the fourth quarter valued at about $2,221,000. Numeric Investors LLC purchased a new stake in shares of Clovis Oncology during the fourth quarter valued at about $955,000. Ladenburg Thalmann Financial Services Inc. increased its stake 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 period. Finally, Guggenheim Capital LLC purchased a new stake in shares of Clovis Oncology during the fourth quarter valued at about $2,824,000. 88.48% of the stock is currently 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.
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