Stifel Nicolaus Raises Clovis Oncology, Inc. (CLVS) Price Target to $125.00
Clovis Oncology, Inc. (NASDAQ:CLVS) had its price objective raised by equities research analysts at Stifel Nicolaus from $86.00 to $125.00 in a note issued to investors on Monday. Stifel Nicolaus’ target price suggests a potential upside of 108.44% from the company’s current price.
Several other analysts have also recently weighed in on CLVS. J P Morgan Chase & Co set a $72.00 price target on Clovis Oncology and gave the stock a “buy” rating in a report on Thursday, June 1st. Leerink Swann began coverage on Clovis Oncology in a report on Tuesday, June 13th. They set an “outperform” rating and a $85.00 price target for the company. Credit Suisse Group reissued an “outperform” rating and set a $88.00 price target (up from $74.00) on shares of Clovis Oncology in a report on Friday. Morgan Stanley lifted their price target on Clovis Oncology from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Finally, Chardan Capital raised Clovis Oncology from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $36.00 to $50.00 in a report on Monday. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $66.87.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.43) by $0.10. The firm had revenue of $7.05 million for the quarter, compared to analyst estimates of $6.04 million.
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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 stock was sold at an average price of $47.39, for a total value 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 approximately $9,647,798.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 9,000 shares of company stock valued at $495,690 over the last ninety days. Insiders own 17.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Two Sigma Investments LP acquired a new position in Clovis Oncology during the fourth quarter worth approximately $953,000. Guggenheim Capital LLC acquired a new position in Clovis Oncology during the fourth quarter worth approximately $2,824,000. Frontier Capital Management Co. LLC acquired a new position in Clovis Oncology during the first quarter worth approximately $4,617,000. Norges Bank acquired a new position in Clovis Oncology during the fourth quarter worth approximately $13,155,000. Finally, Renaissance Technologies LLC acquired a new position in Clovis Oncology during the fourth quarter worth approximately $3,647,000. 97.55% of the stock is 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’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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