Clovis Oncology (NASDAQ:CLVS) had its price target cut by Barclays from $58.00 to $40.00 in a research note published on Wednesday morning, The Fly reports. They currently have an overweight rating on the biopharmaceutical company’s stock.
CLVS has been the topic of a number of other research reports. Cann reissued a hold rating on shares of Clovis Oncology in a research note on Friday, October 19th. JPMorgan Chase & Co. reissued a buy rating on shares of Clovis Oncology in a research note on Sunday, October 21st. Piper Jaffray Companies started coverage on Clovis Oncology in a research note on Thursday, October 18th. They issued a hold rating and a $33.00 price objective on the stock. BidaskClub raised Clovis Oncology from a strong sell rating to a sell rating in a research note on Thursday, October 18th. Finally, Guggenheim started coverage on Clovis Oncology in a research note on Monday, September 17th. They issued a buy rating on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $56.32.
CLVS opened at $14.51 on Wednesday. Clovis Oncology has a one year low of $11.50 and a one year high of $74.60. The company has a quick ratio of 9.21, a current ratio of 10.03 and a debt-to-equity ratio of 1.84.
Clovis Oncology (NASDAQ:CLVS) last posted 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). Clovis Oncology had a negative return on equity of 101.04% and a negative net margin of 390.65%. The firm had revenue of $22.76 million during the quarter, compared to the consensus estimate of $30.11 million. During the same period in the prior year, the firm posted ($1.24) EPS. The firm’s quarterly revenue was up 35.4% on a year-over-year basis. As a group, sell-side analysts predict that Clovis Oncology will post -6.65 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in CLVS. Redmile Group LLC acquired a new stake in shares of Clovis Oncology during the second quarter worth $79,964,000. Emerald Advisers Inc. PA raised its position in shares of Clovis Oncology by 71.6% during the second quarter. Emerald Advisers Inc. PA now owns 355,033 shares of the biopharmaceutical company’s stock worth $16,143,000 after purchasing an additional 148,107 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in shares of Clovis Oncology by 85.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 291,689 shares of the biopharmaceutical company’s stock worth $13,263,000 after purchasing an additional 134,274 shares during the period. Royal Bank of Canada raised its position in shares of Clovis Oncology by 133.7% during the first quarter. Royal Bank of Canada now owns 184,528 shares of the biopharmaceutical company’s stock worth $9,743,000 after purchasing an additional 105,584 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of Clovis Oncology by 19.4% during the second quarter. Voya Investment Management LLC now owns 641,570 shares of the biopharmaceutical company’s stock worth $29,172,000 after purchasing an additional 104,114 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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