Clovis Oncology, Inc. (CLVS) Receives New Coverage from Analysts at Evercore ISI
Equities researchers at Evercore ISI started coverage on shares of Clovis Oncology, Inc. (NASDAQ:CLVS) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set an “in-line” rating and a $73.00 price target on the biopharmaceutical company’s stock. Evercore ISI’s price objective would suggest a potential upside of 1.71% from the stock’s current price.
CLVS has been the subject of a number of other research reports. Morgan Stanley reiterated an “overweight” rating and set a $79.00 price objective on shares of Clovis Oncology in a research note on Tuesday, May 2nd. ValuEngine upgraded Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Cann reiterated a “hold” rating on shares of Clovis Oncology in a research note on Monday, July 31st. Credit Suisse Group reiterated an “outperform” rating and set a $88.00 price objective on shares of Clovis Oncology in a research note on Friday, June 16th. Finally, Zacks Investment Research upgraded Clovis Oncology from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Wednesday, July 12th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $81.91.
Clovis Oncology (NASDAQ CLVS) traded down 0.96% during mid-day trading on Wednesday, reaching $71.08. The company’s stock had a trading volume of 273,092 shares. The stock has a 50-day moving average price of $85.29 and a 200-day moving average price of $67.35. Clovis Oncology has a one year low of $16.61 and a one year high of $99.45. The company’s market capitalization is $3.47 billion.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.27) by $0.02. The business had revenue of $14.62 million during the quarter, compared to analyst estimates of $13.07 million. The business’s revenue was down 32.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.07) EPS. Equities research analysts forecast that Clovis Oncology will post ($7.51) EPS for the current year.
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In related news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $61.82, for a total value of $185,460.00. Following the sale, the insider now directly owns 200,583 shares in the company, valued at approximately $12,400,041.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James C. Blair sold 18,450 shares of Clovis Oncology stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $78.61, for a total value of $1,450,354.50. Following the completion of the sale, the director now owns 2,185 shares in the company, valued at $171,762.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,450 shares of company stock worth $2,120,645. 17.40% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of CLVS. First Mercantile Trust Co. purchased a new stake in Clovis Oncology during the first quarter valued at about $115,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Clovis Oncology by 71.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,819 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 758 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Clovis Oncology by 160.7% in the second quarter. Advisors Asset Management Inc. now owns 1,895 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 1,168 shares during the last quarter. Legato Capital Management LLC purchased a new stake in Clovis Oncology during the second quarter valued at about $220,000. Finally, Bank of Montreal Can boosted its stake in Clovis Oncology by 284.9% in the second quarter. Bank of Montreal Can now owns 2,702 shares of the biopharmaceutical company’s stock valued at $253,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.
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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