Clovis Oncology Inc. (NASDAQ:CLVS) was upgraded by research analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a research note issued on Wednesday. The brokerage presently has a $41.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $19.00. Credit Suisse Group AG’s price target would indicate a potential upside of 6.88% from the stock’s current price.

A number of other research firms have also weighed in on CLVS. SunTrust Banks Inc. started coverage on shares of Clovis Oncology in a report on Friday, August 5th. They set a “buy” rating and a $25.00 target price on the stock. Piper Jaffray Cos. reissued a “hold” rating and issued a $14.00 price target on shares of Clovis Oncology in a report on Wednesday, June 29th. 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 report on Thursday, June 9th. 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 report on Thursday, August 11th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target on shares of Clovis Oncology in a report on Thursday, August 18th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $32.20.

Clovis Oncology (NASDAQ:CLVS) opened at 38.36 on Wednesday. The company has a 50-day moving average of $23.50 and a 200 day moving average of $17.45. Clovis Oncology has a 12-month low of $11.57 and a 12-month high of $109.18. The firm’s market cap is $1.48 billion.

Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.13) by $0.06. During the same quarter in the prior year, the business posted ($2.10) EPS. Equities analysts expect that Clovis Oncology will post ($9.32) EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in CLVS. Norges Bank purchased a new stake in shares of Clovis Oncology during the fourth quarter valued at $7,790,000. CIBC World Markets Inc. boosted its stake in shares of 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 during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of 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 during the last quarter. Spark Investment Management LLC boosted its stake in shares of 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 during the last quarter. Finally, State Street Corp boosted 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 during the last quarter. 98.46% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:CLVS

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