Clovis Oncology (NASDAQ:CLVS)’s share price rose 8.6% during mid-day trading on Tuesday . The company traded as high as $22.35 and last traded at $23.59. Approximately 118,951 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 3,022,219 shares. The stock had previously closed at $21.73.
CLVS has been the topic of a number of recent research reports. Guggenheim initiated coverage on shares of Clovis Oncology in a research note on Monday, September 17th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. reissued a “buy” rating and set a $71.00 price target on shares of Clovis Oncology in a research report on Friday, September 21st. Leerink Swann began 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. reissued a “hold” rating on shares of Clovis Oncology in a research report on Tuesday, October 2nd. Finally, BidaskClub raised shares of Clovis Oncology from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Clovis Oncology currently has a consensus rating of “Hold” and an average target price of $56.32.
The stock has a market capitalization of $966.73 million, a price-to-earnings ratio of -4.65 and a beta of 1.74. 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 (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 analysts’ consensus estimates 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 firm had revenue of $22.76 million for the quarter, compared to the consensus estimate of $30.11 million. During the same period in the prior year, the business earned ($1.24) earnings per share. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. On average, equities analysts anticipate that Clovis Oncology will post -6.92 EPS for the current fiscal year.
In related news, insider Lindsey Rolfe sold 1,728 shares of the firm’s stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $17.72, for a total transaction of $30,620.16. Following the sale, the insider now directly owns 17,600 shares in the company, valued at $311,872. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.20% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Teachers Advisors LLC raised its holdings in shares of Clovis Oncology by 0.9% during the third quarter. Teachers Advisors LLC now owns 144,561 shares of the biopharmaceutical company’s stock worth $4,246,000 after acquiring an additional 1,278 shares during the period. Morse Asset Management Inc raised its holdings in shares of Clovis Oncology by 14.0% during the second quarter. Morse Asset Management Inc now owns 13,400 shares of the biopharmaceutical company’s stock worth $609,000 after acquiring an additional 1,650 shares during the period. MetLife Investment Advisors LLC raised its holdings in shares of Clovis Oncology by 8.7% during the second quarter. MetLife Investment Advisors LLC now owns 21,967 shares of the biopharmaceutical company’s stock worth $999,000 after acquiring an additional 1,764 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Clovis Oncology by 37.9% during the second quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the biopharmaceutical company’s stock worth $339,000 after acquiring an additional 2,056 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Clovis Oncology by 4.1% during the third quarter. Swiss National Bank now owns 87,050 shares of the biopharmaceutical company’s stock worth $2,557,000 after acquiring an additional 3,400 shares during the period.
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Clovis Oncology Company Profile (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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