Clovis Oncology’s (CLVS) Buy Rating Reiterated at Stifel Nicolaus
Clovis Oncology, Inc. (NASDAQ:CLVS)‘s stock had its “buy” rating reaffirmed by equities research analysts at Stifel Nicolaus in a research note issued on Friday. They presently have a $125.00 price target on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 69.86% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Morgan Stanley dropped their target price on shares of Clovis Oncology from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Clovis Oncology in a report on Friday, August 18th. Evercore ISI started coverage on shares of Clovis Oncology in a report on Wednesday, August 16th. They issued an “in-line” rating and a $73.00 price objective on the stock. Leerink Swann dropped their price objective on shares of Clovis Oncology to $107.00 and set an “outperform” rating on the stock in a report on Friday, August 18th. Finally, Zacks Investment Research downgraded shares of Clovis Oncology from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $87.15.
Shares of Clovis Oncology (NASDAQ:CLVS) traded up $0.73 during trading on Friday, hitting $73.59. 842,256 shares of the stock were exchanged, compared to its average volume of 1,237,951. The company has a current ratio of 3.26, a quick ratio of 3.23 and a debt-to-equity ratio of 0.82. Clovis Oncology has a 52-week low of $25.81 and a 52-week high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($1.18) by ($0.06). The company had revenue of $16.81 million for the quarter, compared to analysts’ expectations of $21.12 million. Clovis Oncology had a negative return on equity of 144.79% and a negative net margin of 947.47%. During the same period in the prior year, the firm posted ($1.70) EPS. equities research analysts expect that Clovis Oncology will post -7.61 earnings per share for the current fiscal year.
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In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $69.50, for a total transaction of $208,500.00. Following the completion of the transaction, the insider now owns 191,583 shares of the company’s stock, valued at $13,315,018.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 9,000 shares of company stock valued at $672,270. 12.50% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of CLVS. Jennison Associates LLC raised its holdings in Clovis Oncology by 222.5% in the second quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock valued at $110,968,000 after acquiring an additional 817,677 shares in the last quarter. Franklin Resources Inc. raised its holdings in Clovis Oncology by 70.3% in the second quarter. Franklin Resources Inc. now owns 1,665,200 shares of the biopharmaceutical company’s stock valued at $155,913,000 after acquiring an additional 687,300 shares in the last quarter. Vanguard Group Inc. raised its holdings in Clovis Oncology by 25.3% in the first quarter. Vanguard Group Inc. now owns 3,285,195 shares of the biopharmaceutical company’s stock valued at $209,169,000 after acquiring an additional 662,969 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in Clovis Oncology in the second quarter valued at approximately $58,154,000. Finally, Farallon Capital Management LLC raised its holdings in Clovis Oncology by 662.5% in the second quarter. Farallon Capital Management LLC now owns 610,000 shares of the biopharmaceutical company’s stock valued at $57,114,000 after acquiring an additional 530,000 shares in the last quarter. 99.34% 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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