Clovis Oncology, Inc. (CLVS) Earns Buy Rating from Bank of America Corporation
Several other equities research analysts have also issued reports on CLVS. Cann reaffirmed a hold rating on shares of Clovis Oncology in a research note on Monday, July 31st. J P Morgan Chase & Co reaffirmed an overweight rating on shares of Clovis Oncology in a research note on Tuesday, August 1st. BidaskClub raised Clovis Oncology from a buy rating to a strong-buy rating in a research note on Wednesday. Zacks Investment Research lowered Clovis Oncology from a buy rating to a hold rating in a research note on Thursday, July 13th. Finally, Leerink Swann assumed coverage on Clovis Oncology in a research note on Tuesday, June 13th. They set an outperform rating and a $85.00 price target for the company. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $81.59.
Shares of Clovis Oncology (CLVS) traded up 1.38% during midday trading on Thursday, hitting $78.50. The stock had a trading volume of 1,312,623 shares. The stock’s market cap is $3.50 billion. The firm’s 50-day moving average price is $87.51 and its 200-day moving average price is $66.24. Clovis Oncology has a 1-year low of $14.62 and a 1-year high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.27) by $0.02. The business had revenue of $14.62 million during the quarter, compared to analysts’ expectations of $13.07 million. During the same period in the prior year, the business posted ($2.07) earnings per share. The firm’s revenue was down 32.5% on a year-over-year basis. Analysts forecast that Clovis Oncology will post ($5.96) earnings per share for the current 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 dated Monday, July 17th. The stock was sold at an average price of $91.56, for a total value of $274,680.00. Following the completion of the sale, the insider now owns 197,583 shares of the company’s stock, valued at approximately $18,090,699.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 9,000 shares of company stock valued at $602,310. 17.40% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. bought a new stake in Clovis Oncology during the first quarter worth $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Clovis Oncology by 71.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,819 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 758 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Clovis Oncology by 160.7% in the second quarter. Advisors Asset Management Inc. now owns 1,895 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 1,168 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Clovis Oncology by 3.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,800 shares of the biopharmaceutical company’s stock worth $179,000 after buying an additional 100 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Clovis Oncology during the first quarter worth about $185,000. 90.01% of the stock is owned by institutional investors.
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’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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