BidaskClub upgraded shares of Clovis Oncology (NASDAQ:CLVS) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
A number of other analysts have also commented on the company. ValuEngine raised Clovis Oncology from a sell rating to a hold rating in a report on Wednesday. Bank of America reduced their target price on Clovis Oncology from $90.00 to $55.52 and set a buy rating for the company in a report on Monday, April 9th. SunTrust Banks lifted their target price on Clovis Oncology to $90.00 and gave the stock a buy rating in a report on Monday, April 9th. Cann reissued a hold rating on shares of Clovis Oncology in a report on Sunday, April 8th. Finally, Credit Suisse Group set a $86.00 target price on Clovis Oncology and gave the stock a buy rating in a report on Friday, April 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $87.60.
Clovis Oncology stock opened at $60.64 on Wednesday. The firm has a market capitalization of $3,107.22, a price-to-earnings ratio of -11.84 and a beta of 0.93. Clovis Oncology has a 12 month low of $45.42 and a 12 month high of $99.45. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.69 and a quick ratio of 7.35.
Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Monday, February 26th. The biopharmaceutical company reported ($1.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.25. The business had revenue of $17.04 million during the quarter, compared to analyst estimates of $19.42 million. Clovis Oncology had a negative return on equity of 81.34% and a negative net margin of 624.02%. The company’s quarterly revenue was up 21746.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.83) EPS. equities research analysts forecast that Clovis Oncology will post -4.78 earnings per share for the current year.
In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the insider now owns 180,571 shares of the company’s stock, valued at $9,767,085.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thorlef Spickschen sold 4,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.00, for a total value of $270,000.00. Following the sale, the director now directly owns 16,618 shares of the company’s stock, valued at approximately $997,080. The disclosure for this sale can be found here. Insiders sold 19,500 shares of company stock valued at $1,156,455 in the last ninety days. 12.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CLVS. HealthCor Management L.P. grew its holdings in Clovis Oncology by 50.4% during the fourth quarter. HealthCor Management L.P. now owns 973,840 shares of the biopharmaceutical company’s stock valued at $66,221,000 after purchasing an additional 326,420 shares during the period. Redmile Group LLC grew its holdings in Clovis Oncology by 32.5% during the fourth quarter. Redmile Group LLC now owns 1,320,027 shares of the biopharmaceutical company’s stock valued at $89,762,000 after purchasing an additional 323,417 shares during the period. Franklin Resources Inc. grew its holdings in Clovis Oncology by 13.8% during the fourth quarter. Franklin Resources Inc. now owns 2,634,401 shares of the biopharmaceutical company’s stock valued at $179,138,000 after purchasing an additional 318,931 shares during the period. Millennium Management LLC bought a new stake in Clovis Oncology during the fourth quarter valued at about $17,652,000. Finally, UBS Asset Management Americas Inc. grew its holdings in Clovis Oncology by 47.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 552,082 shares of the biopharmaceutical company’s stock valued at $37,542,000 after purchasing an additional 178,337 shares during the period.
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About Clovis Oncology
Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.
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