Clovis Oncology (CLVS) Lifted to Outperform at Leerink Swann

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Leerink Swann upgraded shares of Clovis Oncology (NASDAQ:CLVS) from a market perform rating to an outperform rating in a research report released on Tuesday, MarketBeat.com reports.

Other analysts have also recently issued research reports about the company. Piper Jaffray Companies reaffirmed a neutral rating on shares of Clovis Oncology in a report on Friday, October 19th. Cann reaffirmed a hold rating on shares of Clovis Oncology in a report on Friday, October 19th. JPMorgan Chase & Co. cut Clovis Oncology from an overweight rating to a neutral rating and lowered their price target for the company from $71.00 to $16.00 in a report on Wednesday, October 31st. Oppenheimer reaffirmed a hold rating on shares of Clovis Oncology in a report on Tuesday, October 30th. Finally, BidaskClub raised Clovis Oncology from a strong sell rating to a sell rating in a report on Thursday, October 18th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $56.32.

Shares of CLVS opened at $21.24 on Tuesday. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.03 and a quick ratio of 8.46. Clovis Oncology has a 52-week low of $11.50 and a 52-week high of $69.02.

Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.11). The company had revenue of $22.76 million for the quarter, compared to analysts’ expectations of $30.11 million. Clovis Oncology had a negative return on equity of 108.92% and a negative net margin of 390.65%. The business’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same period last year, the company posted ($1.24) EPS. On average, equities research analysts forecast that Clovis Oncology will post -6.8 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Greenwood Capital Associates LLC raised its holdings in shares of Clovis Oncology by 25.3% in the 2nd quarter. Greenwood Capital Associates LLC now owns 6,981 shares of the biopharmaceutical company’s stock valued at $317,000 after acquiring an additional 1,408 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Clovis Oncology by 23.9% in the 2nd quarter. Amalgamated Bank now owns 7,283 shares of the biopharmaceutical company’s stock valued at $331,000 after acquiring an additional 1,406 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Clovis Oncology in the 2nd quarter valued at about $339,000. PNC Financial Services Group Inc. raised its holdings in shares of Clovis Oncology by 37.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the biopharmaceutical company’s stock valued at $339,000 after acquiring an additional 2,056 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Clovis Oncology during the 3rd quarter valued at about $226,000.

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.

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Analyst Recommendations for Clovis Oncology (NASDAQ:CLVS)

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