Credit Suisse Group AG Reaffirms Outperform Rating for Clovis Oncology Inc (CLVS)
Clovis Oncology Inc (NASDAQ:CLVS)‘s stock had its “outperform” rating reiterated by equities research analysts at Credit Suisse Group AG in a research note issued on Tuesday. They presently have a $74.00 price objective on the biopharmaceutical company’s stock. Credit Suisse Group AG’s price objective suggests a potential upside of 28.96% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. Piper Jaffray Companies set a $77.00 price objective on Clovis Oncology and gave the company a “buy” rating in a report on Tuesday, March 28th. Chardan Capital reissued a “sell” rating and issued a $36.00 price objective on shares of Clovis Oncology in a report on Thursday, March 16th. Goldman Sachs Group Inc boosted their price objective on Clovis Oncology from $44.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, March 15th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Clovis Oncology in a report on Wednesday, March 15th. Finally, Morgan Stanley boosted their price objective on Clovis Oncology from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.21.
Shares of Clovis Oncology (NASDAQ:CLVS) traded down 2.77% during trading on Tuesday, reaching $55.79. The company had a trading volume of 440,306 shares. The stock’s 50-day moving average price is $62.37 and its 200-day moving average price is $48.48. The company’s market capitalization is $2.49 billion. Clovis Oncology has a 52 week low of $11.57 and a 52 week high of $74.94.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Wednesday, February 22nd. The biopharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.65) by $0.18. The firm earned $0.08 million during the quarter. During the same period in the previous year, the firm posted ($3.12) earnings per share. On average, equities analysts expect that Clovis Oncology will post ($5.31) EPS for the current fiscal year.
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In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $56.02, for a total transaction of $168,060.00. Following the transaction, the insider now directly owns 206,583 shares in the company, valued at approximately $11,572,779.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in shares of Clovis Oncology by 32.4% in the third quarter. Canada Pension Plan Investment Board now owns 43,300 shares of the biopharmaceutical company’s stock valued at $1,561,000 after buying an additional 10,600 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Clovis Oncology by 0.8% in the third quarter. Rhumbline Advisers now owns 34,323 shares of the biopharmaceutical company’s stock valued at $1,237,000 after buying an additional 276 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Clovis Oncology by 10.5% in the third quarter. TIAA CREF Investment Management LLC now owns 139,813 shares of the biopharmaceutical company’s stock valued at $5,040,000 after buying an additional 13,320 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Clovis Oncology by 226.6% in the third quarter. Teachers Advisors LLC now owns 165,614 shares of the biopharmaceutical company’s stock valued at $5,970,000 after buying an additional 114,900 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its position in shares of Clovis Oncology by 1.6% in the third quarter. BlackRock Investment Management LLC now owns 119,281 shares of the biopharmaceutical company’s stock valued at $4,300,000 after buying an additional 1,831 shares in the last quarter. Institutional investors and hedge funds own 88.48% 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’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.
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