Clovis Oncology Inc. (NASDAQ:CLVS) saw unusually-strong trading volume on Wednesday after Stifel Nicolaus raised their price target on the stock from $30.00 to $45.00. Stifel Nicolaus currently has a buy rating on the stock. Approximately 9,256,575 shares traded hands during trading, an increase of 104% from the previous session’s volume of 4,537,091 shares.The stock last traded at $34.98 and had previously closed at $34.83.

A number of other research firms have also recently weighed in on CLVS. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $27.65 price target on shares of Clovis Oncology in a research note on Wednesday, September 14th. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $14.00 price target on shares of Clovis Oncology in a research note on Thursday, August 25th. Credit Suisse Group AG upped their price target on shares of Clovis Oncology from $14.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 24th. Mizuho upped their price target on shares of Clovis Oncology from $15.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 24th. Finally, Vetr raised shares of Clovis Oncology from a “buy” rating to a “strong-buy” rating and set a $17.71 price target on the stock in a research note on Thursday, June 9th. 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’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.20.

Several large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Clovis Oncology during the fourth quarter valued at about $7,790,000. CIBC World Markets Inc. boosted its stake in Clovis Oncology by 7.8% in the first quarter. CIBC World Markets Inc. now owns 11,680 shares of the biopharmaceutical company’s stock valued at $224,000 after buying an additional 850 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Clovis Oncology by 7.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 825,085 shares of the biopharmaceutical company’s stock valued at $15,842,000 after buying an additional 54,476 shares in the last quarter. Spark Investment Management LLC boosted its stake in Clovis Oncology by 2.3% in the first quarter. Spark Investment Management LLC now owns 112,500 shares of the biopharmaceutical company’s stock valued at $2,160,000 after buying an additional 2,500 shares in the last quarter. Finally, State Street Corp boosted its stake in 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. 98.46% of the stock is currently owned by institutional investors.

The stock has a 50 day moving average of $22.84 and a 200-day moving average of $17.30. The stock’s market cap is $1.37 billion.

Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data 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 quarter in the prior year, the firm earned ($2.10) EPS. Equities analysts predict that Clovis Oncology Inc. will post ($9.32) earnings per share for the current fiscal year.

Clovis Oncology Company Profile

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.

5 Day Chart for NASDAQ:CLVS

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