Clovis Oncology Inc. (CLVS) Given Outperform Rating at Credit Suisse Group AG
Credit Suisse Group AG reissued their outperform rating on shares of Clovis Oncology Inc. (NASDAQ:CLVS) in a research note issued to investors on Monday. They currently have a $41.00 price target on the biopharmaceutical company’s stock.
A number of other brokerages also recently issued reports on CLVS. SunTrust Banks Inc. upped their price target on Clovis Oncology from $25.00 to $30.00 and gave the stock a buy rating in a research report on Wednesday, August 24th. Stifel Nicolaus upped their price target on Clovis Oncology from $30.00 to $45.00 and gave the stock a buy rating in a research report on Wednesday, September 21st. Zacks Investment Research raised Clovis Oncology from a hold rating to a buy rating and set a $18.00 price target on the stock in a research report on Thursday, August 11th. JPMorgan Chase & Co. reaffirmed a hold rating and set a $13.00 price target on shares of Clovis Oncology in a research report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reaffirmed a hold rating and set a $14.00 price target on shares of Clovis Oncology in a research report on Wednesday, June 29th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $36.39.
Clovis Oncology (NASDAQ:CLVS) opened at 33.12 on Monday. The stock’s market capitalization is $1.28 billion. Clovis Oncology has a 52-week low of $11.57 and a 52-week high of $109.18. The company’s 50-day moving average price is $30.85 and its 200 day moving average price is $19.07.
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 analysts’ consensus estimates of ($2.13) by $0.06. During the same period in the previous year, the business posted ($2.10) EPS. On average, equities research analysts predict that Clovis Oncology will post ($9.25) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC bought a new position in shares of Clovis Oncology during the second quarter worth $144,000. Fox Run Management L.L.C. bought a new position in shares of Clovis Oncology during the second quarter worth $154,000. CIBC World Markets Inc. raised its position 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 worth $224,000 after buying an additional 850 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Clovis Oncology during the first quarter worth $233,000. Finally, Royal Bank of Canada raised its position in shares of Clovis Oncology by 2,075.9% in the second quarter. Royal Bank of Canada now owns 18,212 shares of the biopharmaceutical company’s stock worth $250,000 after buying an additional 17,375 shares in the last quarter. 98.46% of the stock is currently owned by hedge funds and other institutional investors.
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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