Clovis Oncology (CLVS) Price Target Lowered to $55.52 at Bank of America

Clovis Oncology (NASDAQ:CLVS) had its price target cut by Bank of America from $90.00 to $55.52 in a research report sent to investors on Monday. They currently have a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus lowered their target price on Clovis Oncology from $125.00 to $110.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Barclays set a $85.00 target price on Clovis Oncology and gave the company a buy rating in a research note on Tuesday, February 27th. Credit Suisse Group set a $86.00 target price on Clovis Oncology and gave the company a buy rating in a research note on Thursday, January 18th. They noted that the move was a valuation call. JPMorgan Chase reissued a buy rating on shares of Clovis Oncology in a research note on Thursday, January 11th. Finally, SunTrust Banks lowered their target price on Clovis Oncology from $95.00 to $85.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $87.60.

NASDAQ CLVS opened at $61.44 on Monday. Clovis Oncology has a 1-year low of $45.42 and a 1-year high of $99.45. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.69 and a quick ratio of 7.35.



Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Monday, February 26th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.25. Clovis Oncology had a negative return on equity of 81.34% and a negative net margin of 624.02%. The company had revenue of $17.04 million during the quarter, compared to analyst estimates of $19.42 million. During the same quarter in the previous year, the company posted ($1.83) EPS. Clovis Oncology’s revenue for the quarter was up 21746.2% on a year-over-year basis. research analysts predict that Clovis Oncology will post -4.78 EPS for the current fiscal year.

In other Clovis Oncology news, Director Thorlef Spickschen sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, April 9th. The stock was sold at an average price of $60.02, for a total transaction of $270,090.00. Following the transaction, the director now owns 7,618 shares in the company, valued at approximately $457,232.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $59.16, for a total value of $177,480.00. Following the transaction, the insider now owns 183,571 shares in the company, valued at approximately $10,860,060.36. The disclosure for this sale can be found here. Insiders have sold a total of 19,500 shares of company stock valued at $1,156,455 in the last ninety days. 12.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB purchased a new position in shares of Clovis Oncology during the 4th quarter worth approximately $328,000. Delek Group Ltd. purchased a new position in shares of Clovis Oncology during the 4th quarter worth approximately $2,852,000. MetLife Investment Advisors LLC purchased a new position in shares of Clovis Oncology during the 4th quarter worth approximately $1,374,000. Endurant Capital Management LP grew its holdings in shares of Clovis Oncology by 19.2% during the 4th quarter. Endurant Capital Management LP now owns 67,650 shares of the biopharmaceutical company’s stock worth $4,600,000 after acquiring an additional 10,900 shares during the period. Finally, Palo Alto Investors LLC grew its holdings in shares of Clovis Oncology by 2.2% during the 4th quarter. Palo Alto Investors LLC now owns 3,402,781 shares of the biopharmaceutical company’s stock worth $231,389,000 after acquiring an additional 73,200 shares during the period.

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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.

Analyst Recommendations for Clovis Oncology (NASDAQ:CLVS)

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