Clovis Oncology (CLVS) Upgraded at BidaskClub

Clovis Oncology (NASDAQ:CLVS) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Tuesday, March 6th.

CLVS has been the topic of a number of other research reports. Leerink Swann reaffirmed an “outperform” rating and issued a $90.00 target price (down previously from $107.00) on shares of Clovis Oncology in a research report on Wednesday, November 15th. JPMorgan Chase reaffirmed a “buy” rating on shares of Clovis Oncology in a research report on Thursday, January 11th. SunTrust Banks lowered their target price on Clovis Oncology from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Cann reaffirmed a “hold” rating on shares of Clovis Oncology in a research report on Tuesday, February 27th. Finally, Credit Suisse Group set a $86.00 target price on Clovis Oncology and gave the company a “buy” rating in a research report on Thursday, January 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $88.57.

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Shares of NASDAQ:CLVS traded down $0.08 during midday trading on Tuesday, hitting $52.80. The stock had a trading volume of 960,574 shares, compared to its average volume of 860,663. Clovis Oncology has a twelve month low of $45.42 and a twelve month high of $99.45. The company has a market capitalization of $2,670.25, a price-to-earnings ratio of -10.31 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.69 and a quick ratio of 7.35.

Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.29) by $0.25. The firm had revenue of $17.04 million for the quarter, compared to the consensus estimate of $19.42 million. Clovis Oncology had a negative return on equity of 81.34% and a negative net margin of 624.02%. The company’s revenue for the quarter was up 21746.2% on a year-over-year basis. During the same quarter last year, the business posted ($1.83) EPS. sell-side analysts anticipate that Clovis Oncology will post -4.85 earnings per share for the current fiscal year.

In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the insider now owns 180,571 shares of the company’s stock, valued at $9,767,085.39. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thorlef Spickschen sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $64.97, for a total value of $292,365.00. Following the sale, the director now owns 21,118 shares of the company’s stock, valued at approximately $1,372,036.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,500 shares of company stock worth $1,178,730. Company insiders own 12.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Palo Alto Investors LLC boosted its holdings in shares of Clovis Oncology by 2.2% during the fourth quarter. Palo Alto Investors LLC now owns 3,402,781 shares of the biopharmaceutical company’s stock worth $231,389,000 after acquiring an additional 73,200 shares during the period. Franklin Resources Inc. increased its holdings in shares of Clovis Oncology by 13.8% during the fourth quarter. Franklin Resources Inc. now owns 2,634,401 shares of the biopharmaceutical company’s stock worth $179,138,000 after buying an additional 318,931 shares in the last quarter. Orbimed Advisors LLC increased its holdings in shares of Clovis Oncology by 13.5% during the third quarter. Orbimed Advisors LLC now owns 2,388,670 shares of the biopharmaceutical company’s stock worth $196,826,000 after buying an additional 284,300 shares in the last quarter. Redmile Group LLC increased its holdings in shares of Clovis Oncology by 32.5% during the fourth quarter. Redmile Group LLC now owns 1,320,027 shares of the biopharmaceutical company’s stock worth $89,762,000 after buying an additional 323,417 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Clovis Oncology by 4.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,002,897 shares of the biopharmaceutical company’s stock worth $68,197,000 after buying an additional 41,120 shares in the last quarter.

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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.

Analyst Recommendations for Clovis Oncology (NASDAQ:CLVS)

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