Clovis Oncology Inc. (CLVS) Receives “Neutral” Rating from Piper Jaffray Cos.
Piper Jaffray Cos. reiterated their neutral rating on shares of Clovis Oncology Inc. (NASDAQ:CLVS) in a research report released on Wednesday morning. Piper Jaffray Cos. currently has a $42.00 price objective on the biopharmaceutical company’s stock.
Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. restated a hold rating and issued a $13.00 price target on shares of Clovis Oncology in a research note on Tuesday, August 9th. Zacks Investment Research upgraded Clovis Oncology from a hold rating to a buy rating and set a $18.00 price target for the company in a research note on Thursday, August 11th. SunTrust Banks Inc. assumed coverage on Clovis Oncology in a research note on Friday, August 5th. They issued a buy rating and a $25.00 price target for the company. Credit Suisse Group AG restated a hold rating on shares of Clovis Oncology in a research note on Tuesday, July 12th. Finally, Stifel Nicolaus reiterated a buy rating and set a $30.00 price objective on shares of Clovis Oncology in a research note on Thursday, June 30th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $36.39.
Clovis Oncology (NASDAQ:CLVS) traded down 0.15% during midday trading on Wednesday, hitting $32.63. The stock had a trading volume of 656,569 shares. The company’s market cap is $1.26 billion. The firm has a 50-day moving average of $30.54 and a 200-day moving average of $18.97. 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 results on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.13) by $0.06. During the same period in the previous year, the business posted ($2.10) earnings per share. Equities research analysts forecast that Clovis Oncology will post ($9.25) EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLVS. Alps Advisors Inc. boosted its position in Clovis Oncology by 25.1% in the second quarter. Alps Advisors Inc. now owns 53,924 shares of the biopharmaceutical company’s stock worth $740,000 after buying an additional 10,828 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in Clovis Oncology by 46.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 47,000 shares of the biopharmaceutical company’s stock worth $645,000 after buying an additional 15,000 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in Clovis Oncology during the second quarter worth approximately $1,234,000. Fox Run Management L.L.C. acquired a new position in Clovis Oncology during the second quarter worth approximately $154,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Clovis Oncology during the first quarter worth approximately $233,000. Hedge funds and other institutional investors own 98.46% of the company’s stock.
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.
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