Shares of Clovis Oncology Inc. (NASDAQ:CLVS) fell 7.1% during trading on Tuesday . The stock traded as low as $16.61 and last traded at $16.82, with a volume of 1,520,677 shares changing hands. The stock had previously closed at $18.10.

Several research firms have recently commented on CLVS. Piper Jaffray Cos. set a $14.00 price target on shares of Clovis Oncology and gave the company a “hold” rating in a research report on Thursday, August 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price target on shares of Clovis Oncology in a research report on Thursday, August 18th. Zacks Investment Research raised shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, August 11th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $13.00 price target on shares of Clovis Oncology in a research report on Tuesday, August 9th. Finally, SunTrust Banks Inc. began coverage on shares of Clovis Oncology in a research report on Friday, August 5th. They set a “buy” rating and a $25.00 price target on the stock. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $28.98.

The company’s market capitalization is $886.68 million. The firm’s 50 day moving average is $15.33 and its 200-day moving average is $16.09.

Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, topping the consensus estimate of ($2.13) by $0.06. During the same quarter last year, the business earned ($2.10) EPS. Analysts expect that Clovis Oncology Inc. will post ($9.33) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Clovis Oncology stock. Rhumbline Advisers raised its stake in shares of Clovis Oncology Inc. (NASDAQ:CLVS) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 approximately 0.08% of Clovis Oncology worth $1,058,000 at the end of the most recent reporting period.

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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