Clovis Oncology Inc. (NASDAQ:CLVS)‘s stock had its “neutral” rating reissued by equities research analysts at Piper Jaffray Cos. in a note issued to investors on Wednesday. They currently have a $42.00 target price on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s target price would suggest a potential upside of 28.91% from the stock’s previous close.
A number of other research firms also recently commented on CLVS. SunTrust Banks Inc. lifted their target price on Clovis Oncology from $38.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Zacks Investment Research downgraded Clovis Oncology from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Credit Suisse Group AG raised Clovis Oncology from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $19.00 to $41.00 in a research note on Wednesday, September 21st. Janney Montgomery Scott downgraded Clovis Oncology from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $36.00 in a research note on Wednesday, September 21st. Finally, Stifel Nicolaus upped their target price on Clovis Oncology from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, September 21st. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.39.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 32.58 on Wednesday. The firm has a 50-day moving average of $30.27 and a 200 day moving average of $18.87. The company’s market cap is $1.25 billion. Clovis Oncology has a 12 month low of $11.57 and a 12 month high of $109.18.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.13) by $0.06. During the same period last year, the company posted ($2.10) EPS. On average, analysts expect that Clovis Oncology will post ($9.25) earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the company. Palo Alto Investors LLC boosted its position in shares of 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 in the last quarter. Vanguard Group Inc. boosted 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 worth $33,003,000 after buying an additional 171,047 shares during the period. State Street Corp boosted 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 worth $34,525,000 after buying an additional 313,893 shares during the period. BlackRock Institutional Trust Company N.A. boosted 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 worth $15,842,000 after buying an additional 54,476 shares during the period. Finally, Boxer Capital LLC bought a new position in Clovis Oncology during the second quarter worth $6,174,000. 98.46% of the stock is 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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