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HC Wainwright reaffirmed their buy rating on shares of Clovis Oncology (NASDAQ:CLVS) in a research report released on Wednesday, July 3rd, Stock Target Advisor reports.
“Our $36 price target is derived from a sum-of-the-parts analysis based on probability-adjusted revenue forecasts for Rubraca in ovarian cancer combination and prostate cancer indications, and the net present value (NPV) for the current commercial business.”,” HC Wainwright’s analyst wrote.
CLVS has been the topic of several other research reports. Goldman Sachs Group upgraded shares of Koninklijke KPN from a neutral rating to a buy rating in a report on Wednesday, May 29th. Zacks Investment Research upgraded Gerdau from a sell rating to a hold rating in a research report on Monday, May 13th. JPMorgan Chase & Co. upgraded ROYAL MAIL PLC/ADR from an underweight rating to a neutral rating in a research report on Monday, June 3rd. SunTrust Banks upped their target price on Edison International to $77.00 and gave the company a positive rating in a research report on Monday, April 15th. Finally, Credit Suisse Group reiterated a buy rating and issued a $29.00 target price on shares of Clovis Oncology in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Clovis Oncology currently has a consensus rating of Hold and a consensus target price of $27.44.
Shares of CLVS traded up $0.16 during trading hours on Wednesday, reaching $10.79. 1,621,103 shares of the company traded hands, compared to its average volume of 1,793,591. The stock has a market capitalization of $571.92 million, a price-to-earnings ratio of -1.53 and a beta of 1.91. Clovis Oncology has a 12-month low of $10.42 and a 12-month high of $46.79. The company has a current ratio of 4.39, a quick ratio of 4.15 and a debt-to-equity ratio of 8.04. The stock has a fifty day moving average of $13.44.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($1.63) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.80) by $0.17. The company had revenue of $33.12 million during the quarter, compared to analyst estimates of $32.10 million. Clovis Oncology had a negative net margin of 342.54% and a negative return on equity of 196.39%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.38) earnings per share. On average, equities analysts expect that Clovis Oncology will post -6.76 earnings per share for the current year.
In other news, insider Lindsey Rolfe sold 1,728 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $14.70, for a total transaction of $25,401.60. Following the transaction, the insider now owns 23,319 shares in the company, valued at approximately $342,789.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 2,452 shares of company stock worth $36,261 in the last quarter. Insiders own 8.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bourgeon Capital Management LLC acquired a new position in Clovis Oncology in the 2nd quarter valued at $186,000. CWM Advisors LLC acquired a new stake in shares of Clovis Oncology in the 2nd quarter worth $167,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Clovis Oncology in the 2nd quarter worth $376,000. Redmile Group LLC increased its stake in shares of Clovis Oncology by 12.4% in the 1st quarter. Redmile Group LLC now owns 4,563,929 shares of the biopharmaceutical company’s stock worth $113,277,000 after acquiring an additional 503,400 shares during the last quarter. Finally, Private Advisors LLC acquired a new stake in shares of Clovis Oncology in the 1st quarter worth $349,000. 93.21% of the stock is owned by hedge funds and other institutional investors.
Clovis Oncology Company Profile
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.
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