Clovis Oncology, Inc. (NASDAQ:CLVS) PT Set at $107.00 by Credit Suisse Group
Clovis Oncology, Inc. (NASDAQ:CLVS) received a $107.00 price target from Credit Suisse Group in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 27.61% from the company’s previous close.
CLVS has been the topic of several other research reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $111.00 price objective (up previously from $72.00) on shares of Clovis Oncology in a research report on Tuesday, June 20th. Bank of America Corporation lowered their price objective on shares of Clovis Oncology from $103.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, June 20th. Zacks Investment Research lowered shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Janney Montgomery Scott raised shares of Clovis Oncology from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 price objective on shares of Clovis Oncology in a research report on Tuesday, June 20th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $81.59.
Shares of Clovis Oncology (NASDAQ:CLVS) traded down 1.34% during midday trading on Tuesday, hitting $83.85. 1,533,406 shares of the stock were exchanged. Clovis Oncology has a 1-year low of $13.43 and a 1-year high of $96.92. The firm’s 50 day moving average is $79.75 and its 200-day moving average is $63.69. The stock’s market capitalization is $3.75 billion.
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 consensus estimate of ($1.43) by $0.10. The firm had revenue of $7.05 million for the quarter, compared to analysts’ expectations of $6.04 million. On average, analysts predict that Clovis Oncology will post ($5.66) EPS for the current 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 that occurred on Monday, July 17th. The shares were sold at an average price of $91.56, for a total value of $274,680.00. Following the completion of the transaction, the insider now owns 197,583 shares of the company’s stock, valued at approximately $18,090,699.48. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 9,000 shares of company stock valued at $602,310. Corporate insiders own 17.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CLVS. Two Sigma Investments LP bought a new position in Clovis Oncology during the fourth quarter worth approximately $953,000. Guggenheim Capital LLC acquired a new stake in shares of Clovis Oncology during the fourth quarter worth about $2,824,000. Frontier Capital Management Co. LLC acquired a new stake in shares of Clovis Oncology during the first quarter worth about $4,617,000. Norges Bank acquired a new stake in shares of Clovis Oncology during the fourth quarter worth about $13,155,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Clovis Oncology during the fourth quarter worth about $3,647,000. 89.68% of the stock is owned by institutional investors and hedge funds.
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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