Clovis Oncology (NASDAQ:CLVS) received a $86.00 price objective from research analysts at Credit Suisse Group in a report issued on Thursday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 51.52% from the company’s current price. The analysts noted that the move was a valuation call.
CLVS has been the subject of several other reports. Leerink Swann reaffirmed an “outperform” rating and set a $90.00 price objective (down from $107.00) on shares of Clovis Oncology in a research report on Wednesday, November 15th. Zacks Investment Research raised shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Tuesday, October 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Clovis Oncology in a research report on Thursday, January 11th. Barclays assumed coverage on shares of Clovis Oncology in a research report on Monday, October 23rd. They set an “overweight” rating and a $105.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on shares of Clovis Oncology from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $90.43.
Shares of Clovis Oncology (CLVS) traded up $0.89 during mid-day trading on Thursday, reaching $56.76. 836,842 shares of the company’s stock traded hands, compared to its average volume of 1,250,000. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.19 and a quick ratio of 3.16. Clovis Oncology has a 52 week low of $45.42 and a 52 week high of $99.45. The stock has a market cap of $2,780.00, a PE ratio of -6.86 and a beta of 1.38.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.06). The firm 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 122.06% and a negative net margin of 947.47%. During the same period last year, the firm posted ($1.70) earnings per share. sell-side analysts predict that Clovis Oncology will post -7.65 earnings per share for the current fiscal year.
In related news, Director Thorlef Spickschen sold 4,500 shares of Clovis Oncology stock in a transaction on Friday, December 8th. The shares were sold at an average price of $60.00, for a total transaction of $270,000.00. Following the sale, the director now directly owns 25,618 shares in the company, valued at approximately $1,537,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $63.70, for a total transaction of $191,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,000 shares of company stock worth $1,123,425 over the last quarter. 12.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its stake in Clovis Oncology by 5.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 220,924 shares of the biopharmaceutical company’s stock valued at $15,023,000 after purchasing an additional 11,030 shares during the period. Neuberger Berman Group LLC acquired a new position in Clovis Oncology in the third quarter valued at $906,000. California Public Employees Retirement System increased its stake in Clovis Oncology by 11.7% in the third quarter. California Public Employees Retirement System now owns 33,384 shares of the biopharmaceutical company’s stock valued at $2,751,000 after purchasing an additional 3,484 shares during the period. Janney Montgomery Scott LLC acquired a new position in Clovis Oncology in the third quarter valued at $638,000. Finally, Bamco Inc. NY increased its stake in Clovis Oncology by 94.1% in the third quarter. Bamco Inc. NY now owns 29,147 shares of the biopharmaceutical company’s stock valued at $2,402,000 after purchasing an additional 14,132 shares during the period.
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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.