Clovis Oncology (NASDAQ:CLVS) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, ValuEngine reports.
A number of other brokerages have also recently commented on CLVS. Goldman Sachs Group cut Clovis Oncology from a “neutral” rating to a “sell” rating and lowered their target price for the company from $17.00 to $15.00 in a report on Wednesday, May 29th. BidaskClub lowered Clovis Oncology from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 27th. JPMorgan Chase & Co. reissued a “hold” rating and set a $27.00 price target on shares of Clovis Oncology in a research note on Monday, June 3rd. Piper Jaffray Companies reissued a “neutral” rating on shares of Clovis Oncology in a research note on Thursday. Finally, SunTrust Banks reduced their price target on Clovis Oncology to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Clovis Oncology presently has a consensus rating of “Hold” and a consensus price target of $27.44.
NASDAQ:CLVS traded up $0.39 during trading hours on Thursday, reaching $9.26. 3,083,306 shares of the company traded hands, compared to its average volume of 1,753,509. The firm’s 50-day simple moving average is $12.90. The stock has a market capitalization of $559.20 million, a PE ratio of -1.31 and a beta of 1.86. The company has a debt-to-equity ratio of 8.04, a quick ratio of 4.15 and a current ratio of 4.39. Clovis Oncology has a 1-year low of $8.35 and a 1-year high of $41.75.
Clovis Oncology (NASDAQ:CLVS) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($2.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.70) by ($0.57). The company had revenue of $32.98 million for the quarter, compared to analyst estimates of $34.92 million. Clovis Oncology had a negative net margin of 342.54% and a negative return on equity of 196.39%. Clovis Oncology’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.94) EPS. As a group, sell-side analysts predict that Clovis Oncology will post -6.76 EPS for the current year.
In other Clovis Oncology news, insider Lindsey Rolfe sold 1,728 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $14.70, for a total transaction of $25,401.60. Following the transaction, the insider now owns 23,319 shares of the company’s stock, valued at approximately $342,789.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 2,452 shares of company stock worth $36,261. Corporate insiders own 8.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CLVS. Ropes Wealth Advisors LLC purchased a new position in shares of Clovis Oncology in the 2nd quarter worth $27,000. Pearl River Capital LLC purchased a new position in shares of Clovis Oncology in the 1st quarter worth $40,000. Aperio Group LLC purchased a new position in shares of Clovis Oncology in the 2nd quarter worth $48,000. Great West Life Assurance Co. Can raised its position in shares of Clovis Oncology by 54.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 7,034 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 2,489 shares during the period. Finally, CWM Advisors LLC purchased a new position in shares of Clovis Oncology in the 2nd quarter worth $167,000. 93.19% of the stock is currently owned by institutional investors and hedge funds.
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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