Clovis Oncology, Inc. (CLVS) Now Covered by Analysts at Evercore ISI
Equities research analysts at Evercore ISI began coverage on shares of Clovis Oncology, Inc. (NASDAQ:CLVS) in a report issued on Wednesday, The Fly reports. The brokerage set a $73.00 price target on the biopharmaceutical company’s stock. Evercore ISI’s price target suggests a potential upside of 1.71% from the stock’s current price.
CLVS has been the topic of a number of other research reports. J P Morgan Chase & Co restated an “overweight” rating and set a $111.00 price target (up previously from $72.00) on shares of Clovis Oncology in a research note on Tuesday, June 20th. Bank of America Corporation cut their price target on shares of Clovis Oncology from $103.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, June 20th. Zacks Investment Research lowered shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Janney Montgomery Scott upgraded shares of Clovis Oncology from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $79.00 price target on shares of Clovis Oncology in a research note on Tuesday, June 20th. Eight 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 a consensus price target of $81.91.
Shares of Clovis Oncology (CLVS) traded down 0.15% on Wednesday, hitting $71.77. 1,113,973 shares of the stock traded hands. The stock has a 50 day moving average of $85.80 and a 200 day moving average of $67.31. The company’s market cap is $3.51 billion. Clovis Oncology has a one year low of $15.87 and a one year high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.27) by $0.02. The business had revenue of $14.62 million for the quarter, compared to analyst estimates of $13.07 million. During the same quarter last year, the firm earned ($2.07) EPS. The company’s quarterly revenue was down 32.5% compared to the same quarter last year. Equities analysts anticipate that Clovis Oncology will post ($7.51) earnings per share 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 on Monday, July 17th. The shares were sold at an average price of $91.56, for a total transaction of $274,680.00. Following the sale, the insider now directly owns 197,583 shares of the company’s stock, valued at $18,090,699.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James C. Blair sold 18,450 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $78.61, for a total transaction of $1,450,354.50. Following the sale, the director now directly owns 2,185 shares in the company, valued at $171,762.85. The disclosure for this sale can be found here. Insiders have sold 27,450 shares of company stock worth $2,120,645 over the last three months. 17.40% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Clovis Oncology by 271.4% in the first quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock worth $115,679,000 after buying an additional 1,327,703 shares during the period. Wellington Management Group LLP increased its stake in shares of Clovis Oncology by 10,143.6% in the first quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company’s stock worth $84,788,000 after buying an additional 1,318,669 shares during the period. Jennison Associates LLC increased its stake in shares of Clovis Oncology by 222.5% in the second quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock worth $110,968,000 after buying an additional 817,677 shares during the period. Alliancebernstein L.P. increased its stake in shares of Clovis Oncology by 1,538.0% in the first quarter. Alliancebernstein L.P. now owns 754,122 shares of the biopharmaceutical company’s stock worth $48,015,000 after buying an additional 708,082 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Clovis Oncology by 70.3% in the second quarter. Franklin Resources Inc. now owns 1,665,200 shares of the biopharmaceutical company’s stock worth $155,913,000 after buying an additional 687,300 shares during the period. 92.80% of the stock is currently owned by hedge funds and other 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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