Clovis Oncology, Inc. (NASDAQ:CLVS) shares were down 7.1% during trading on Friday . The company traded as low as $67.04 and last traded at $67.17. Approximately 3,076,645 shares changed hands during mid-day trading, an increase of 60% from the average daily volume of 1,917,830 shares. The stock had previously closed at $72.32.
A number of research analysts have recently commented on CLVS shares. Credit Suisse Group set a $107.00 target price on Clovis Oncology and gave the company a “buy” rating in a research note on Tuesday, July 18th. Cann started coverage on Clovis Oncology in a research note on Thursday, June 22nd. They set a “market perform” rating for the company. J P Morgan Chase & Co upgraded Clovis Oncology from a “neutral” rating to an “overweight” rating and set a $72.00 price objective for the company in a research note on Wednesday, May 17th. Gabelli started coverage on Clovis Oncology in a research note on Friday, July 7th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Zacks Investment Research upgraded Clovis Oncology from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Wednesday, July 12th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $85.16.
The firm’s market capitalization is $3.28 billion. The firm has a 50-day moving average of $76.78 and a 200-day moving average of $68.43.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.27) by $0.02. The firm had revenue of $14.62 million during the quarter, compared to analysts’ expectations of $13.07 million. During the same period in the previous year, the company posted ($2.07) EPS. The company’s revenue was down 32.5% on a year-over-year basis. On average, equities analysts expect that Clovis Oncology, Inc. will post ($7.53) EPS for the current fiscal year.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $91.56, for a total transaction of $274,680.00. Following the completion of the sale, the insider now owns 197,583 shares in the company, valued at approximately $18,090,699.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James C. Blair sold 18,450 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $78.61, for a total value of $1,450,354.50. Following the sale, the director now owns 2,185 shares of the company’s stock, valued at approximately $171,762.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,450 shares of company stock valued at $2,120,645. Company insiders own 17.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CLVS. Phocas Financial Corp. purchased a new stake in shares of Clovis Oncology during the 2nd quarter valued at $112,000. First Mercantile Trust Co. purchased a new stake in shares of Clovis Oncology during the 1st quarter valued at $115,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Clovis Oncology by 71.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,819 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 758 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Clovis Oncology by 160.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,895 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 1,168 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Clovis Oncology by 3.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,800 shares of the biopharmaceutical company’s stock valued at $179,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 98.94% of the company’s stock.
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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’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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