Alliancebernstein L.P. raised its holdings in shares of Clovis Oncology (NASDAQ:CLVS) by 48.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,414,652 shares of the biopharmaceutical company’s stock after purchasing an additional 461,629 shares during the period. Alliancebernstein L.P. owned 2.68% of Clovis Oncology worth $41,548,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CLVS. Bank of Montreal Can raised its position in Clovis Oncology by 2,420.9% during the 2nd quarter. Bank of Montreal Can now owns 15,831 shares of the biopharmaceutical company’s stock valued at $720,000 after purchasing an additional 15,203 shares during the last quarter. Amalgamated Bank raised its position in shares of Clovis Oncology by 23.9% in the 2nd quarter. Amalgamated Bank now owns 7,283 shares of the biopharmaceutical company’s stock worth $331,000 after acquiring an additional 1,406 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Clovis Oncology by 3.8% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 270,000 shares of the biopharmaceutical company’s stock worth $12,277,000 after acquiring an additional 10,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Clovis Oncology by 39.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,849 shares of the biopharmaceutical company’s stock worth $2,267,000 after acquiring an additional 14,025 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its position in shares of Clovis Oncology by 71.6% in the 2nd quarter. Emerald Advisers Inc. PA now owns 355,033 shares of the biopharmaceutical company’s stock worth $16,143,000 after acquiring an additional 148,107 shares in the last quarter.
Clovis Oncology stock opened at $17.20 on Friday. The company has a current ratio of 9.03, a quick ratio of 8.46 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $875.54 million, a P/E ratio of -3.36 and a beta of 2.07. Clovis Oncology has a twelve month low of $11.50 and a twelve month high of $69.02.
Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.11). The company had revenue of $22.76 million during the quarter, compared to analysts’ expectations of $30.11 million. Clovis Oncology had a negative return on equity of 108.92% and a negative net margin of 390.65%. The business’s quarterly revenue was up 35.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.24) EPS. On average, analysts expect that Clovis Oncology will post -6.77 EPS for the current fiscal year.
CLVS has been the subject of several research reports. Piper Jaffray Companies reissued a “neutral” rating on shares of Clovis Oncology in a research report on Friday, October 19th. Cann reissued a “hold” rating on shares of Clovis Oncology in a research report on Friday, October 19th. JPMorgan Chase & Co. lowered Clovis Oncology from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $71.00 to $16.00 in a research report on Wednesday, October 31st. Oppenheimer reissued a “hold” rating on shares of Clovis Oncology in a research report on Tuesday, October 30th. Finally, BidaskClub raised Clovis Oncology from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $56.32.
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About Clovis Oncology
Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.
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