Clovis Oncology’s (CLVS) “Buy” Rating Reiterated at SunTrust Banks Inc.
SunTrust Banks Inc. restated their buy rating on shares of Clovis Oncology Inc. (NASDAQ:CLVS) in a report issued on Wednesday. The firm currently has a $27.65 price target on the biopharmaceutical company’s stock.
Other equities research analysts also recently issued research reports about the company. Vetr downgraded Clovis Oncology from a buy rating to a hold rating and set a $17.66 price objective for the company. in a research report on Tuesday, June 7th. Piper Jaffray Cos. set a $14.00 target price on Clovis Oncology and gave the company a hold rating in a report on Thursday, August 18th. JPMorgan Chase & Co. reiterated a hold rating and issued a $13.00 target price on shares of Clovis Oncology in a report on Tuesday, August 9th. Zacks Investment Research upgraded Clovis Oncology from a hold rating to a buy rating and set a $18.00 target price on the stock in a report on Thursday, August 11th. Finally, Credit Suisse Group AG reiterated a hold rating on shares of Clovis Oncology in a report on Tuesday, July 12th. 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 company’s stock. The company presently has an average rating of Buy and a consensus target price of $30.28.
Clovis Oncology (NASDAQ:CLVS) opened at 30.91 on Wednesday. The stock has a 50 day moving average price of $21.67 and a 200-day moving average price of $17.07. The stock’s market cap is $1.19 billion. Clovis Oncology has a 12-month low of $11.57 and a 12-month high of $109.18.
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 period in the previous year, the company posted ($2.10) earnings per share. On average, equities analysts expect that Clovis Oncology will post ($9.32) earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the stock. Boxer Capital LLC purchased a new stake in shares of Clovis Oncology during the second quarter valued at $6,174,000. Palo Alto Investors LLC raised its stake in shares of Clovis Oncology by 9.9% in the second quarter. Palo Alto Investors LLC now owns 3,804,088 shares of the biopharmaceutical company’s stock valued at $52,192,000 after buying an additional 342,723 shares in the last quarter. State Street Corp raised its stake in shares of Clovis Oncology by 21.2% in the first quarter. State Street Corp now owns 1,797,874 shares of the biopharmaceutical company’s stock valued at $34,525,000 after buying an additional 313,893 shares in the last quarter. Norges Bank purchased a new stake in shares of Clovis Oncology during the fourth quarter valued at $7,790,000. Finally, Vanguard Group Inc. raised its stake in shares of Clovis Oncology by 7.7% in the second quarter. Vanguard Group Inc. now owns 2,405,468 shares of the biopharmaceutical company’s stock valued at $33,003,000 after buying an additional 171,047 shares in the last quarter. 98.46% of the stock is owned by hedge funds and other institutional investors.
About Clovis Oncology
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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