Clovis Oncology Inc. (CLVS) Receives Outperform Rating from Credit Suisse Group AG
Credit Suisse Group AG restated their outperform rating on shares of Clovis Oncology Inc. (NASDAQ:CLVS) in a report issued on Monday morning. Credit Suisse Group AG currently has a $41.00 target price on the biopharmaceutical company’s stock.
CLVS has been the subject of a number of other research reports. Stifel Nicolaus set a $45.00 price objective on shares of Clovis Oncology and gave the stock a buy rating in a research note on Wednesday, October 5th. SunTrust Banks Inc. reaffirmed a buy rating and set a $27.65 price target on shares of Clovis Oncology in a research report on Wednesday, September 14th. Janney Montgomery Scott downgraded Clovis Oncology from a buy rating to a neutral rating and upped their price target for the stock from $35.00 to $36.00 in a research report on Wednesday, September 21st. JPMorgan Chase & Co. reaffirmed a hold rating and set a $13.00 price target on shares of Clovis Oncology in a research report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reaffirmed a neutral rating and set a $14.00 price target on shares of Clovis Oncology in a research report on Thursday, August 25th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Clovis Oncology has an average rating of Buy and a consensus price target of $34.06.
Clovis Oncology (NASDAQ:CLVS) traded down 0.62% during trading on Monday, hitting $32.24. The stock had a trading volume of 1,142,851 shares. The firm’s market cap is $1.24 billion. The company’s 50 day moving average is $29.85 and its 200 day moving average is $18.77. Clovis Oncology has a 52-week low of $11.57 and a 52-week high of $109.18.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($2.07) EPS for the quarter, topping analysts’ consensus estimates of ($2.13) by $0.06. During the same quarter in the prior year, the company posted ($2.10) earnings per share. Equities research analysts forecast that Clovis Oncology will post ($9.25) earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Boxer Capital LLC acquired a new stake in Clovis Oncology during the second quarter worth approximately $6,174,000. Palo Alto Investors LLC increased its stake in Clovis Oncology by 9.9% in the second quarter. Palo Alto Investors LLC now owns 3,804,088 shares of the biopharmaceutical company’s stock worth $52,192,000 after buying an additional 342,723 shares during the last quarter. State Street Corp increased its stake in Clovis Oncology by 21.2% in the first quarter. State Street Corp now owns 1,797,874 shares of the biopharmaceutical company’s stock worth $34,525,000 after buying an additional 313,893 shares during the last quarter. Norges Bank acquired a new stake in Clovis Oncology during the fourth quarter worth approximately $7,790,000. Finally, Vanguard Group Inc. increased its stake in Clovis Oncology by 7.7% in the second quarter. Vanguard Group Inc. now owns 2,405,468 shares of the biopharmaceutical company’s stock worth $33,003,000 after buying an additional 171,047 shares during the last quarter. Institutional investors own 98.46% of the company’s stock.
About Clovis Oncology
Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company is developing approximately three product candidates: Rociletinib, Rucaparib and Lucitanib. Rociletinib is an oral epidermal growth factor receptor (EGFR), mutant-selective covalent inhibitor that is under review with the United States and European regulatory authorities for the treatment of non-small cell lung cancer (NSCLC) in patients with activating EGFR mutations, as well as the resistance mutation, T790M.
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