Clovis Oncology Inc. (CLVS) Given Consensus Recommendation of “Buy” by Analysts
Clovis Oncology Inc. (NASDAQ:CLVS) has received a consensus rating of “Buy” from the twelve brokerages that are currently covering the stock. Six research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.06.
CLVS has been the topic of a number of analyst reports. SunTrust Banks Inc. restated a “buy” rating and set a $27.65 target price on shares of Clovis Oncology in a research report on Wednesday, September 14th. Stifel Nicolaus restated a “buy” rating and set a $30.00 target price on shares of Clovis Oncology in a research report on Thursday, August 18th. Zacks Investment Research upgraded Clovis Oncology from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Thursday, August 11th. Credit Suisse Group AG restated a “hold” rating on shares of Clovis Oncology in a research report on Tuesday, July 12th. Finally, Piper Jaffray Cos. restated a “hold” rating and set a $14.00 target price on shares of Clovis Oncology in a research report on Wednesday, June 29th.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 31.85 on Thursday. Clovis Oncology has a 52 week low of $11.57 and a 52 week high of $109.18. The firm’s 50-day moving average price is $31.36 and its 200 day moving average price is $19.25. The company’s market capitalization is $1.23 billion.
Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Monday, August 8th. The biopharmaceutical company reported ($2.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.13) by $0.06. During the same period last year, the firm earned ($2.10) EPS. Equities analysts predict that Clovis Oncology will post ($9.25) EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLVS. Boxer Capital LLC acquired a new position in Clovis Oncology during the second quarter worth $6,174,000. Palo Alto Investors LLC increased its stake in shares of 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 in the last quarter. State Street Corp increased its stake in shares of 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. Finally, Deerfield Management Co. purchased a new stake in shares of Clovis Oncology during the second quarter worth about $2,326,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.
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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