Clovis Oncology (NASDAQ:CLVS) had its target price trimmed by Piper Jaffray Companies to $18.00 in a research report released on Wednesday, The Fly reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock. Piper Jaffray Companies also issued estimates for Clovis Oncology’s Q4 2018 earnings at ($1.57) EPS, FY2018 earnings at ($6.75) EPS, Q1 2019 earnings at ($1.45) EPS, Q2 2019 earnings at ($1.39) EPS, Q3 2019 earnings at ($1.27) EPS, Q4 2019 earnings at ($1.24) EPS, FY2019 earnings at ($5.35) EPS, FY2020 earnings at ($4.35) EPS, FY2021 earnings at ($2.86) EPS and FY2022 earnings at ($1.72) EPS.
Several other research analysts have also recently issued reports on the company. SunTrust Banks cut Clovis Oncology to a buy rating and increased their price target for the stock from $20.00 to $70.00 in a research note on Wednesday. Oppenheimer reissued a hold rating on shares of Clovis Oncology in a research note on Tuesday. JPMorgan Chase & Co. cut Clovis Oncology from an overweight rating to a neutral rating and decreased their price target for the stock from $71.00 to $16.00 in a research note on Wednesday. BidaskClub cut Clovis Oncology from a sell rating to a strong sell rating in a research note on Wednesday, October 24th. Finally, Cann reissued a hold rating on shares of Clovis Oncology in a research note on Friday, October 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Clovis Oncology presently has an average rating of Hold and an average price target of $56.32.
CLVS traded up $0.78 during trading on Wednesday, reaching $14.51. 4,121,875 shares of the company were exchanged, compared to its average volume of 3,394,246. The company has a market cap of $612.32 million, a P/E ratio of -2.83 and a beta of 2.08. The company has a debt-to-equity ratio of 1.84, a current ratio of 10.03 and a quick ratio of 9.21. Clovis Oncology has a 52 week low of $11.50 and a 52 week high of $74.60.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.60) by ($0.11). The company had revenue of $22.76 million for the quarter, compared to the consensus estimate of $30.11 million. Clovis Oncology had a negative return on equity of 101.04% and a negative net margin of 390.65%. Clovis Oncology’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.24) earnings per share. As a group, research analysts anticipate that Clovis Oncology will post -6.65 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of Clovis Oncology by 23.9% in the second quarter. Amalgamated Bank now owns 7,283 shares of the biopharmaceutical company’s stock valued at $331,000 after buying an additional 1,406 shares during the period. Greenwood Capital Associates LLC lifted its holdings in shares of Clovis Oncology by 25.3% in the second quarter. Greenwood Capital Associates LLC now owns 6,981 shares of the biopharmaceutical company’s stock valued at $317,000 after buying an additional 1,408 shares during the period. Morse Asset Management Inc lifted its holdings in shares of Clovis Oncology by 14.0% in the second quarter. Morse Asset Management Inc now owns 13,400 shares of the biopharmaceutical company’s stock valued at $609,000 after buying an additional 1,650 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of Clovis Oncology by 8.7% in the second quarter. MetLife Investment Advisors LLC now owns 21,967 shares of the biopharmaceutical company’s stock valued at $999,000 after buying an additional 1,764 shares during the period. Finally, NJ State Employees Deferred Compensation Plan lifted its holdings in shares of Clovis Oncology by 18.2% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 13,000 shares of the biopharmaceutical company’s stock valued at $591,000 after buying an additional 2,000 shares during the period.
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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