Shares of Clovis Oncology Inc. (NASDAQ:CLVS) dropped 5.2% during mid-day trading on Thursday . The stock traded as low as $23.30 and last traded at $23.48, with a volume of 1,533,285 shares traded. The stock had previously closed at $24.77.

CLVS has been the topic of a number of research reports. WallachBeth Capital reduced their target price 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. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $14.00 target price on shares of Clovis Oncology in a research report on Thursday, August 25th. Zacks Investment Research lowered shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. SunTrust Banks Inc. raised their target price on shares of Clovis Oncology from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, August 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 target price on shares of Clovis Oncology in a research report on Thursday, June 30th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.48.

The stock has a 50-day moving average of $17.38 and a 200-day moving average of $16.39. The stock’s market cap is $900.92 million.

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

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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