Clovis Oncology (NASDAQ:CLVS) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.
Several other equities research analysts have also weighed in on the company. Leerink Swann raised Clovis Oncology from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Barclays cut their target price on Clovis Oncology from $58.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 31st. Piper Jaffray Companies cut their target price on Clovis Oncology to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 31st. SunTrust Banks lowered Clovis Oncology to a “buy” rating and raised their target price for the stock from $20.00 to $70.00 in a research report on Wednesday, October 31st. Finally, Oppenheimer reissued a “hold” rating on shares of Clovis Oncology in a research report on Tuesday, October 30th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Clovis Oncology has a consensus rating of “Hold” and an average price target of $56.32.
Shares of NASDAQ CLVS opened at $19.87 on Friday. The company has a current ratio of 9.03, a quick ratio of 8.46 and a debt-to-equity ratio of 2.46. Clovis Oncology has a fifty-two week low of $11.50 and a fifty-two week high of $69.02. The stock has a market cap of $1.05 billion, a PE ratio of -3.88 and a beta of 2.12.
Clovis Oncology (NASDAQ:CLVS) last issued its 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 return on equity of 108.92% and a negative net margin of 390.65%. The business had revenue of $22.76 million for the quarter, compared to analyst estimates of $30.11 million. During the same period last year, the business posted ($1.24) EPS. Clovis Oncology’s revenue was up 35.4% on a year-over-year basis. Equities analysts forecast that Clovis Oncology will post -6.77 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLVS. Advisors Asset Management Inc. increased its position in Clovis Oncology by 1,017.5% during the second quarter. Advisors Asset Management Inc. now owns 56,668 shares of the biopharmaceutical company’s stock worth $218,000 after buying an additional 51,597 shares during the period. Pacer Advisors Inc. acquired a new position in Clovis Oncology during the third quarter worth approximately $226,000. Comerica Bank acquired a new position in Clovis Oncology during the third quarter worth approximately $241,000. Zeke Capital Advisors LLC acquired a new position in Clovis Oncology during the third quarter worth approximately $268,000. Finally, Greenwood Capital Associates LLC increased its position in Clovis Oncology by 25.3% during the second quarter. Greenwood Capital Associates LLC now owns 6,981 shares of the biopharmaceutical company’s stock worth $317,000 after buying an additional 1,408 shares during the period.
Clovis Oncology Company Profile
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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