Clovis Oncology Inc. (NASDAQ:CLVS) shares traded down 7.1% on Tuesday . The company 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.

A number of research analysts have weighed in on the stock. Piper Jaffray Cos. reaffirmed a “hold” rating on shares of Clovis Oncology in a research report on Sunday, May 8th. WallachBeth Capital reduced their price target on shares of Clovis Oncology from $30.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, May 9th. Zacks Investment Research cut shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Mizuho lifted their price target on shares of Clovis Oncology from $15.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, SunTrust Banks Inc. lifted their price target on shares of Clovis Oncology from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Clovis Oncology currently has an average rating of “Buy” and a consensus price target of $30.48.

The stock has a 50 day moving average price of $15.77 and a 200 day moving average price of $16.16. The company’s market capitalization is $860.88 million.

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, beating analysts’ consensus estimates of ($2.13) by $0.06. During the same period last year, the company posted ($2.10) earnings per share. Equities research analysts expect that Clovis Oncology Inc. will post ($9.33) EPS for the current year.

A hedge fund recently bought a new stake in Clovis Oncology stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Clovis Oncology Inc. (NASDAQ:CLVS) during the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 33,500 shares of the biopharmaceutical company’s stock, valued at approximately $1,172,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of Clovis Oncology 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.