Clovis Oncology (CLVS) Trading Up 2%

Clovis Oncology (NASDAQ:CLVS) rose 2% during mid-day trading on Friday . The company traded as high as $14.35 and last traded at $14.01. Approximately 91,585 shares traded hands during trading, a decline of 97% from the average daily volume of 2,862,648 shares. The stock had previously closed at $13.73.

CLVS has been the topic of several recent research reports. Guggenheim initiated coverage on shares of Clovis Oncology in a research report on Monday, September 17th. They set a “buy” rating on the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of Clovis Oncology in a research report on Tuesday, October 2nd. Cann reissued a “hold” rating on shares of Clovis Oncology in a research report on Friday, October 19th. BidaskClub raised shares of Clovis Oncology from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, Leerink Swann initiated coverage on shares of Clovis Oncology in a research report on Monday, September 24th. They set a “market perform” rating and a $30.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.32.

The company has a current ratio of 10.03, a quick ratio of 9.21 and a debt-to-equity ratio of 1.84.

Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.11). Clovis Oncology had a negative net margin of 390.65% and a negative return on equity of 101.04%. The firm had revenue of $22.76 million for the quarter, compared to analyst estimates of $30.11 million. During the same period in the previous year, the firm posted ($1.24) EPS. The company’s revenue was up 35.4% compared to the same quarter last year. Analysts forecast that Clovis Oncology will post -6.65 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CLVS. Redmile Group LLC acquired a new position in Clovis Oncology in the second quarter valued at about $79,964,000. Emerald Advisers Inc. PA lifted its position in Clovis Oncology by 71.6% in the second quarter. Emerald Advisers Inc. PA now owns 355,033 shares of the biopharmaceutical company’s stock valued at $16,143,000 after buying an additional 148,107 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in Clovis Oncology by 85.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 291,689 shares of the biopharmaceutical company’s stock valued at $13,263,000 after buying an additional 134,274 shares during the last quarter. Royal Bank of Canada lifted its position in Clovis Oncology by 133.7% in the first quarter. Royal Bank of Canada now owns 184,528 shares of the biopharmaceutical company’s stock valued at $9,743,000 after buying an additional 105,584 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in Clovis Oncology by 19.4% in the second quarter. Voya Investment Management LLC now owns 641,570 shares of the biopharmaceutical company’s stock valued at $29,172,000 after buying an additional 104,114 shares during the last quarter.

About Clovis Oncology (NASDAQ:CLVS)

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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