Clovis Oncology (CLVS) Rating Increased to Hold at ValuEngine

Clovis Oncology (NASDAQ:CLVS) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other equities research analysts have also recently commented on the stock. Leerink Swann reissued an “outperform” rating and issued a $90.00 price objective (down from $107.00) on shares of Clovis Oncology in a research note on Wednesday, November 15th. Zacks Investment Research raised shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, October 17th. Oppenheimer reissued a “hold” rating on shares of Clovis Oncology in a research note on Monday, September 11th. Barclays started coverage on shares of Clovis Oncology in a research note on Monday, October 23rd. They issued an “overweight” rating and a $105.00 price objective on the stock. Finally, Morgan Stanley lowered their price objective on shares of Clovis Oncology from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $91.83.

Clovis Oncology (NASDAQ CLVS) opened at $67.92 on Friday. 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 12 month low of $39.83 and a 12 month high of $99.45. The firm has a market cap of $3,230.00, a price-to-earnings ratio of -8.20 and a beta of 1.39.

Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $16.81 million for the quarter, compared to analyst estimates of $21.12 million. During the same period last year, the company earned ($1.70) earnings per share. research analysts predict that Clovis Oncology will post -7.65 earnings per share for the current year.

In other news, Director Thorlef Spickschen sold 4,500 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $60.00, for a total transaction of $270,000.00. Following the transaction, the director now directly owns 25,618 shares in the company, valued at approximately $1,537,080. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $84.54, for a total transaction of $253,620.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,500 shares of company stock worth $907,200. 12.50% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Sphera Funds Management LTD. purchased a new position in shares of Clovis Oncology during the 2nd quarter worth about $8,708,000. Federated Investors Inc. PA lifted its holdings in shares of Clovis Oncology by 27.2% during the 2nd quarter. Federated Investors Inc. PA now owns 29,330 shares of the biopharmaceutical company’s stock worth $2,746,000 after acquiring an additional 6,265 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Clovis Oncology by 18.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,408 shares of the biopharmaceutical company’s stock worth $2,847,000 after acquiring an additional 4,699 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Clovis Oncology by 19.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,863 shares of the biopharmaceutical company’s stock worth $2,234,000 after acquiring an additional 3,894 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in shares of Clovis Oncology during the 2nd quarter worth about $58,154,000.

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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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