Clovis Oncology, Inc. (CLVS) Given New $114.00 Price Target at Leerink Swann
Clovis Oncology, Inc. (NASDAQ:CLVS) had its target price increased by stock analysts at Leerink Swann to $114.00 in a report issued on Monday, The Fly reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Leerink Swann’s price objective indicates a potential upside of 29.72% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other research firms have also recently weighed in on CLVS. Chardan Capital reissued a “sell” rating and issued a $36.00 target price on shares of Clovis Oncology in a research note on Thursday, March 16th. Piper Jaffray Companies set a $77.00 target price on shares of Clovis Oncology and gave the company a “buy” rating in a research note on Tuesday, March 28th. J P Morgan Chase & Co reissued a “hold” rating on shares of Clovis Oncology in a research note on Wednesday, March 15th. Goldman Sachs Group, Inc. (The) raised their target price on shares of Clovis Oncology from $44.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, March 15th. Finally, Credit Suisse Group raised their target price on shares of Clovis Oncology from $53.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $68.80.
Clovis Oncology (NASDAQ:CLVS) traded up 46.54% during mid-day trading on Monday, hitting $87.88. 2,929,051 shares of the company traded hands. The stock’s market capitalization is $3.93 billion. Clovis Oncology has a one year low of $11.57 and a one year high of $91.00. The company’s 50-day moving average is $54.46 and its 200-day moving average is $55.14.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($1.43) by $0.10. The firm had revenue of $7.05 million during the quarter, compared to the consensus estimate of $6.04 million. Analysts predict that Clovis Oncology will post ($4.95) EPS for the current year.
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In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction on Monday, May 15th. The shares were sold at an average price of $47.39, for a total transaction of $142,170.00. Following the completion of the transaction, the insider now directly owns 203,583 shares of the company’s stock, valued at $9,647,798.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 9,000 shares of company stock valued at $495,690. Company insiders own 17.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP bought a new position in Clovis Oncology during the fourth quarter worth approximately $953,000. Guggenheim Capital LLC bought a new position in Clovis Oncology during the fourth quarter worth approximately $2,824,000. Frontier Capital Management Co. LLC bought a new position in Clovis Oncology during the first quarter worth approximately $4,617,000. Norges Bank bought a new position in Clovis Oncology during the fourth quarter worth approximately $13,155,000. Finally, Renaissance Technologies LLC bought a new position in Clovis Oncology during the fourth quarter worth approximately $3,647,000. 97.55% of the stock is owned by hedge funds and other institutional investors.
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’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.
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