Clovis Oncology Inc. (NASDAQ: CLVS) had its price target increased by equities researchers at Stifel Nicolaus from $30.00 to $45.00. With a rating of Buy on the stock, the company has a 52-week high of $109.18. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $29.71, less than the opening price of $37.28, a difference of 8.33 percent.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday Clovis Oncology Inc. (NASDAQ: CLVS) shares last traded at $35.68, a spike of $0.85 compared to the previous closing price. Opening at $37.28, they varied from $33.62 and $37.60 throughout the day.
Clovis Oncology Inc. (NASDAQ: CLVS) currently has a market cap of 1.37B.
The stock’s average daily volume is 2,455,910 shares out of a total float 17,968,000 and some 12,816,132 shares traded hands yesterday, higher than the norm. Large expansions in trading volume and price growth together could signal excessive volume aggregation by institutional investors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% higher than normal on the breakout to indicate that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Clovis Oncology Inc. (NASDAQ: CLVS) have ranged from $11.57 – 109.18, and the stock now has a 50-day MA of $22.84 and 200-day MA of $17.30. Today’s last price is 0.67% lower than the 52 week high of $109.18.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings at least 25% or more for 3 consecutive years.
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