Clovis Oncology Inc. (NASDAQ:CLVS) has been assigned a $45.00 price objective by equities research analysts at Stifel Nicolaus in a research note issued on Wednesday. The firm presently has a a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 25.80% from the company’s current price.
CLVS has been the subject of a number of other reports. SunTrust Banks Inc. lifted their target price on Clovis Oncology from $38.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, September 23rd. Zacks Investment Research lowered Clovis Oncology from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $14.00 target price on shares of Clovis Oncology in a research report on Thursday, August 25th. Credit Suisse Group AG raised Clovis Oncology from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $19.00 to $41.00 in a research report on Wednesday, September 21st. Finally, Janney Montgomery Scott lowered Clovis Oncology from a “buy” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $36.00 in a research report on Wednesday, September 21st. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.06.
Clovis Oncology (NASDAQ:CLVS) traded down 18.8429% during midday trading on Wednesday, hitting $29.0299. The company had a trading volume of 18,067,908 shares. The stock has a 50 day moving average price of $29.07 and a 200-day moving average price of $18.62. The stock’s market capitalization is $1.12 billion. Clovis Oncology has a 52 week low of $11.57 and a 52 week high of $109.18.
Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.13) by $0.06. During the same period in the prior year, the business earned ($2.10) EPS. On average, equities analysts predict that Clovis Oncology will post ($9.25) EPS for the current year.
A number of hedge funds have recently bought and sold shares of CLVS. Parametric Portfolio Associates LLC purchased a new stake in Clovis Oncology during the second quarter valued at $144,000. Fox Run Management L.L.C. purchased a new stake in Clovis Oncology during the second quarter valued at $154,000. Legal & General Group Plc increased its stake in Clovis Oncology by 56.8% in the first quarter. Legal & General Group Plc now owns 8,483 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 3,072 shares during the last quarter. CIBC World Markets Inc. increased its stake in Clovis Oncology by 7.8% in the first quarter. CIBC World Markets Inc. now owns 11,680 shares of the biopharmaceutical company’s stock valued at $224,000 after buying an additional 850 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Clovis Oncology during the first quarter valued at $233,000. Institutional investors and hedge funds own 98.46% of the company’s stock.
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 is developing approximately three product candidates: Rociletinib, Rucaparib and Lucitanib. Rociletinib is an oral epidermal growth factor receptor (EGFR), mutant-selective covalent inhibitor that is under review with the United States and European regulatory authorities for the treatment of non-small cell lung cancer (NSCLC) in patients with activating EGFR mutations, as well as the resistance mutation, T790M.
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