Clovis Oncology Inc. (NASDAQ:CLVS) shares fell 2.6% on Wednesday . The stock traded as low as $16.58 and last traded at $17.01, with a volume of 510,531 shares traded. The stock had previously closed at $17.46.

Several research firms recently weighed in on CLVS. Vetr cut shares of Clovis Oncology from a “buy” rating to a “hold” rating and set a $17.66 price objective on the stock. in a research report on Tuesday, June 7th. Piper Jaffray Cos. set a $14.00 price objective on shares of Clovis Oncology and gave the stock a “hold” rating in a research report on Thursday. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective on shares of Clovis Oncology in a research report on Thursday. Credit Suisse Group AG restated a “hold” rating on shares of Clovis Oncology in a research report on Wednesday, June 8th. Finally, Zacks Investment Research upgraded shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Thursday, August 11th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.98.

The company’s market capitalization is $651.76 million. The firm’s 50 day moving average price is $15.13 and its 200-day moving average price is $16.19.

Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.13) by $0.06. During the same period in the previous year, the firm earned ($2.10) earnings per share. On average, equities research analysts forecast that Clovis Oncology Inc. will post ($9.33) EPS for the current year.

An institutional investor recently raised its position in Clovis Oncology stock. Rhumbline Advisers raised its position in Clovis Oncology Inc. (NASDAQ:CLVS) by 6.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 30,237 shares of the biopharmaceutical company’s stock after buying an additional 1,880 shares during the period. Rhumbline Advisers owned about 0.08% of Clovis Oncology worth $1,058,000 as of its most recent filing with the SEC.

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 is developing approximately three product candidates: Rociletinib, Rucaparib and Lucitanib. Rociletinib is an oral epidermal growth factor receptor (EGFR), mutant-selective covalent inhibitor that is under review with the United States and European regulatory authorities for the treatment of non-small cell lung cancer (NSCLC) in patients with activating EGFR mutations, as well as the resistance mutation, T790M.

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