A number of firms have modified their ratings and price targets on shares of Clovis Oncology (NASDAQ: CLVS) recently:

  • 11/3/2017 – Clovis Oncology had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $125.00 price target on the stock.
  • 11/2/2017 – Clovis Oncology had its price target lowered by analysts at Morgan Stanley from $89.00 to $86.00. They now have an “overweight” rating on the stock.
  • 10/23/2017 – Clovis Oncology is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $105.00 price target on the stock.
  • 10/17/2017 – Clovis Oncology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $95.00 price target on the stock. According to Zacks, “Clovis’ Rubraca registered impressive sales in the second quarter. The FDA’s accelerated approval to ovarian cancer treatment, Rubraca in Dec 2016 was a huge boost for  the company. Rubraca has bright prospects, given the tremendous demand for PARP inhibitors. Clovis is focused on achieving continued approval for the drug. Rubraca is also under review in the EU for a comparable indication. Several studies on Rubraca, targeting different types of ovarian cancer patients, are currently underway. Promising progression-free survival and safety results from the ARIEL3 maintenance study in Jun 2017 are positives. However, with just one approved product in the portfolio, Clovis is heavily dependent on Rubraca for growth, which concerns us. Clovis’ shares have outperformed the industry so far this year. Loss Estimates have narrowed ahead of the Q3 earnings results. The company has a mixed record of earnings surprises in recent quarters.”
  • 10/10/2017 – Clovis Oncology had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 10/3/2017 – Clovis Oncology was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Clovis’ Rubraca registered impressive sales in the second quarter. The FDA’s accelerated approval to ovarian cancer treatment, Rubraca in Dec 2016 was a huge boost for  the company. Rubraca has bright prospects, given the tremendous demand for PARP inhibitors. Clovis is focused on achieving continued approval for the drug. Rubraca is also under review in the EU for a comparable indication. Several studies on Rubraca, targeting different types of ovarian cancer patients, are currently underway. Promising progression-free survival and safety results from the ARIEL3 maintenance study in Jun 2017 are positives. However, with just one approved product in the portfolio, Clovis is heavily dependent on Rubraca for growth, which concerns us. Rubraca is also likely to face intense competition from currently marketed PARP inhibitors. Clovis’ shares have outperformed the industry so far this year.”
  • 9/18/2017 – Clovis Oncology had its “buy” rating reaffirmed by analysts at Leerink Swann. They now have a $107.00 price target on the stock.
  • 9/14/2017 – Clovis Oncology is now covered by analysts at Royal Bank Of Canada. They set a “sector perform” rating and a $81.00 price target on the stock.
  • 9/11/2017 – Clovis Oncology had its “hold” rating reaffirmed by analysts at Cann. They wrote, “In a presentation on Saturday at the 2017 European Society for Medical Oncology (ESMO) Congress, Clovis Oncology released additional details from the results of the phase III ARIEL3 study of Rucraca. In addition to PFS results, Clovis presented response rate data from an exploratory analysis of investigator-assessed ORR for patients with measurable disease at baseline. These response rate data are consistent with the previously released PFS data.””
  • 9/11/2017 – Clovis Oncology had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..

Clovis Oncology, Inc. (NASDAQ:CLVS) traded up $0.73 during midday trading on Friday, reaching $73.59. The company had a trading volume of 681,015 shares, compared to its average volume of 1,237,951.

Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.18) by ($0.06). The company had revenue of $16.81 million during the quarter, compared to analyst estimates of $21.12 million. Clovis Oncology had a negative net margin of 947.47% and a negative return on equity of 144.79%. During the same quarter in the previous year, the company earned ($1.70) earnings per share. equities research analysts forecast that Clovis Oncology, Inc. will post -7.43 EPS for the current fiscal year.

In related news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $69.50, for a total value of $208,500.00. Following the completion of the sale, the insider now directly owns 191,583 shares in the company, valued at $13,315,018.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 9,000 shares of company stock valued at $672,270 over the last 90 days. 12.50% of the stock is currently owned by company insiders.

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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