Clovis Oncology (CLVS) Rating Lowered to Sell at ValuEngine

Clovis Oncology (NASDAQ:CLVS) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other research firms have also recently weighed in on CLVS. Cann reissued a “hold” rating on shares of Clovis Oncology in a research report on Monday, September 11th. Evercore ISI initiated coverage on Clovis Oncology in a research report on Wednesday, August 16th. They issued an “in-line” rating and a $73.00 price objective on the stock. Royal Bank Of Canada initiated coverage on Clovis Oncology in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $81.00 price objective on the stock. Oppenheimer reissued a “hold” rating on shares of Clovis Oncology in a research report on Tuesday, October 10th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $125.00 price objective on shares of Clovis Oncology in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. Clovis Oncology currently has a consensus rating of “Buy” and a consensus price target of $86.15.

Clovis Oncology (NASDAQ:CLVS) traded down $1.62 during mid-day trading on Tuesday, reaching $57.69. The company’s stock had a trading volume of 1,165,107 shares, compared to its average volume of 1,826,285. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.16 and a current ratio of 3.19. Clovis Oncology has a twelve month low of $35.38 and a twelve month high of $99.45.

Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.06). Clovis Oncology had a negative return on equity of 122.06% and a negative net margin of 947.47%. The business had revenue of $16.81 million during the quarter, compared to analysts’ expectations of $21.12 million. During the same period in the prior year, the firm posted ($1.70) EPS. research analysts predict that Clovis Oncology will post -7.63 earnings per share for the current year.

In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $69.50, for a total value of $208,500.00. Following the sale, the insider now directly owns 191,583 shares in the company, valued at $13,315,018.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 9,000 shares of company stock worth $653,220. Corporate insiders own 12.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Clovis Oncology by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,618,843 shares of the biopharmaceutical company’s stock valued at $338,831,000 after purchasing an additional 333,648 shares during the period. Orbimed Advisors LLC raised its stake in shares of Clovis Oncology by 13.5% during the 3rd quarter. Orbimed Advisors LLC now owns 2,388,670 shares of the biopharmaceutical company’s stock valued at $196,826,000 after purchasing an additional 284,300 shares during the period. State Street Corp raised its stake in shares of Clovis Oncology by 4.3% during the 2nd quarter. State Street Corp now owns 1,943,480 shares of the biopharmaceutical company’s stock valued at $181,966,000 after purchasing an additional 80,171 shares during the period. Franklin Resources Inc. raised its stake in shares of Clovis Oncology by 70.3% during the 2nd quarter. Franklin Resources Inc. now owns 1,665,200 shares of the biopharmaceutical company’s stock valued at $155,913,000 after purchasing an additional 687,300 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Clovis Oncology by 222.5% during the 2nd quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock valued at $110,968,000 after purchasing an additional 817,677 shares during the period.

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Clovis Oncology Company Profile

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’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.

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