Clovis Oncology Inc. (NASDAQ:CLVS) – Equities researchers at SunTrust Banks decreased their FY2017 earnings estimates for Clovis Oncology in a research report issued to clients and investors on Monday. SunTrust Banks analyst P. Lawson now forecasts that the firm will earn ($5.07) per share for the year, down from their previous forecast of ($4.91). SunTrust Banks currently has a “Buy” rating and a $27.65 target price on the stock. SunTrust Banks also issued estimates for Clovis Oncology’s FY2018 earnings at ($3.34) EPS, FY2019 earnings at ($1.79) EPS and FY2020 earnings at ($0.21) EPS.
Several other analysts have also recently issued reports on the company. Janney Montgomery Scott cut Clovis Oncology from a “buy” rating to a “neutral” rating and upped their target price for the company from $35.00 to $36.00 in a report on Wednesday. Stifel Nicolaus upped their target price on Clovis Oncology from $30.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday. Credit Suisse Group AG upgraded Clovis Oncology from a “neutral” rating to an “outperform” rating and upped their target price for the company from $19.00 to $41.00 in a report on Wednesday. Piper Jaffray Cos. restated a “neutral” rating and issued a $14.00 target price on shares of Clovis Oncology in a report on Thursday, August 25th. Finally, Mizuho upped their target price on Clovis Oncology from $15.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, August 24th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Clovis Oncology has an average rating of “Buy” and an average target price of $32.20.
Clovis Oncology (NASDAQ:CLVS) traded up 6.5165% during trading on Thursday, reaching $38.0051. The company’s stock had a trading volume of 5,122,944 shares. Clovis Oncology has a 1-year low of $11.57 and a 1-year high of $109.18. The stock’s market capitalization is $1.46 billion. The stock has a 50 day moving average price of $22.84 and a 200 day moving average price of $17.30.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, beating the consensus estimate of ($2.13) by $0.06. During the same period in the prior year, the company earned ($2.10) earnings per share.
A number of institutional investors have recently bought and sold shares of CLVS. Palo Alto Investors LLC raised its position in Clovis Oncology by 9.9% in the second quarter. Palo Alto Investors LLC now owns 3,804,088 shares of the biopharmaceutical company’s stock valued at $52,192,000 after buying an additional 342,723 shares during the last quarter. Vanguard Group Inc. raised its position in Clovis Oncology by 7.7% in the second quarter. Vanguard Group Inc. now owns 2,405,468 shares of the biopharmaceutical company’s stock valued at $33,003,000 after buying an additional 171,047 shares during the last quarter. State Street Corp raised its position in Clovis Oncology by 21.2% in the first quarter. State Street Corp now owns 1,797,874 shares of the biopharmaceutical company’s stock valued at $34,525,000 after buying an additional 313,893 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Clovis Oncology by 7.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 825,085 shares of the biopharmaceutical company’s stock valued at $15,842,000 after buying an additional 54,476 shares during the last quarter. Finally, Boxer Capital LLC purchased a new position in Clovis Oncology during the second quarter valued at about $6,174,000. 98.46% of the stock is currently owned by hedge funds and other 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 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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