Royal Bank Of Canada began coverage on shares of Clovis Oncology, Inc. (NASDAQ:CLVS) in a research report sent to investors on Thursday, Marketbeat reports. The brokerage issued a sector perform rating and a $81.00 price objective on the biopharmaceutical company’s stock.
Several other research firms have also commented on CLVS. ValuEngine lowered Clovis Oncology from a hold rating to a sell rating in a research report on Friday, May 19th. BidaskClub upgraded Clovis Oncology from a hold rating to a buy rating in a research report on Wednesday, June 21st. Cann restated a hold rating on shares of Clovis Oncology in a research report on Monday, September 11th. Evercore ISI started coverage on Clovis Oncology in a research report on Wednesday, August 16th. They set an in-line rating and a $73.00 price target for the company. Finally, SunTrust Banks, Inc. restated a buy rating on shares of Clovis Oncology in a research report on Thursday, June 22nd. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $84.91.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 69.46 on Thursday. Clovis Oncology has a 12 month low of $25.50 and a 12 month high of $99.45. The company’s market capitalization is $3.40 billion. The firm’s 50-day moving average price is $74.21 and its 200-day moving average price is $68.78.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.02). The company had revenue of $14.62 million during the quarter, compared to the consensus estimate of $13.07 million. During the same period last year, the firm earned ($2.07) EPS. The business’s revenue for the quarter was down 32.5% compared to the same quarter last year. Equities research analysts expect that Clovis Oncology will post ($7.56) EPS for the current year.
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In other Clovis Oncology news, Director James C. Blair sold 18,450 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $78.61, for a total value of $1,450,354.50. Following the sale, the director now directly owns 2,185 shares in the company, valued at $171,762.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were 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 in the company, valued at $18,090,699.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,450 shares of company stock valued at $1,935,185. 17.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Phocas Financial Corp. acquired a new stake in Clovis Oncology in the second quarter valued at $112,000. Asymmetry Capital Management L.P. raised its stake in Clovis Oncology by 912.0% in the second quarter. Asymmetry Capital Management L.P. now owns 32,385 shares of the biopharmaceutical company’s stock valued at $3,032,000 after buying an additional 29,185 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in Clovis Oncology by 21.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,725 shares of the biopharmaceutical company’s stock valued at $349,000 after buying an additional 655 shares in the last quarter. California State Teachers Retirement System raised its stake in Clovis Oncology by 6.2% in the second quarter. California State Teachers Retirement System now owns 76,735 shares of the biopharmaceutical company’s stock valued at $7,185,000 after buying an additional 4,490 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Clovis Oncology by 18.3% in the second quarter. The Manufacturers Life Insurance Company now owns 30,408 shares of the biopharmaceutical company’s stock valued at $2,847,000 after buying an additional 4,699 shares in the last quarter. Institutional investors own 98.94% 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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