Clovis Oncology’s (CLVS) Buy Rating Reiterated at J P Morgan Chase & Co
Clovis Oncology, Inc. (NASDAQ:CLVS)‘s stock had its “buy” rating reissued by investment analysts at J P Morgan Chase & Co in a research report issued on Friday.
A number of other analysts have also weighed in on the stock. Leerink Swann dropped their target price on shares of Clovis Oncology to $107.00 and set an “outperform” rating for the company in a report on Friday. Evercore ISI assumed coverage on shares of Clovis Oncology in a report on Wednesday. They set an “in-line” rating and a $73.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $93.00 target price on shares of Clovis Oncology in a report on Thursday, August 10th. BidaskClub lowered shares of Clovis Oncology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, Bank of America Corporation restated a “buy” rating on shares of Clovis Oncology in a report on Thursday, August 3rd. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $81.50.
Shares of Clovis Oncology (NASDAQ:CLVS) traded up 4.37% during mid-day trading on Friday, reaching $72.92. The company had a trading volume of 594,221 shares. The company’s market capitalization is $3.56 billion. The firm has a 50-day moving average of $84.61 and a 200-day moving average of $67.36. Clovis Oncology has a 12-month low of $16.61 and a 12-month high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last posted its earnings results 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 firm had revenue of $14.62 million for the quarter, compared to the consensus estimate of $13.07 million. The company’s revenue for the quarter was down 32.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.07) EPS. On average, equities analysts anticipate that Clovis Oncology will post ($7.53) earnings per share for the current fiscal year.
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In other news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 197,583 shares in the company, valued at $18,090,699.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Blair sold 18,450 shares of Clovis Oncology stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $78.61, for a total transaction of $1,450,354.50. Following the transaction, the director now owns 2,185 shares of the company’s stock, valued at $171,762.85. The disclosure for this sale can be found here. Insiders have sold 27,450 shares of company stock valued at $2,120,645 over the last quarter. Company insiders own 17.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CLVS. Palo Alto Investors LLC raised its position in Clovis Oncology by 2.4% in the first quarter. Palo Alto Investors LLC now owns 3,894,963 shares of the biopharmaceutical company’s stock valued at $247,992,000 after buying an additional 90,875 shares during the last quarter. Vanguard Group Inc. raised its position in Clovis Oncology by 10.2% in the second quarter. Vanguard Group Inc. now owns 3,618,843 shares of the biopharmaceutical company’s stock valued at $338,831,000 after buying an additional 333,648 shares during the last quarter. Consonance Capital Management LP raised its position in Clovis Oncology by 20.3% in the third quarter. Consonance Capital Management LP now owns 3,531,487 shares of the biopharmaceutical company’s stock valued at $127,310,000 after buying an additional 595,000 shares during the last quarter. State Street Corp raised its position in Clovis Oncology by 93.7% in the fourth quarter. State Street Corp now owns 2,141,663 shares of the biopharmaceutical company’s stock valued at $95,131,000 after buying an additional 1,035,917 shares during the last quarter. Finally, FMR LLC raised its position in Clovis Oncology by 271.4% in the first quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock valued at $115,679,000 after buying an additional 1,327,703 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.
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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