Clovis Oncology (NASDAQ:CLVS) Trading Down 5.9%

Clovis Oncology (NASDAQ:CLVS)’s stock price dropped 5.9% on Friday . The stock traded as low as $11.23 and last traded at $10.89, approximately 85,920 shares were traded during mid-day trading. A decline of 96% from the average daily volume of 2,020,116 shares. The stock had previously closed at $11.57.

A number of research firms have commented on CLVS. JPMorgan Chase & Co. upgraded shares of ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a research report on Monday, June 3rd. Credit Suisse Group restated a “buy” rating and set a $29.00 price target on shares of Clovis Oncology in a research report on Wednesday, May 15th. Goldman Sachs Group upgraded shares of Koninklijke KPN from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 29th. Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Finally, HC Wainwright set a $51.00 price target on shares of Amarin and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.44.

The business’s 50-day moving average is $14.00. The company has a current ratio of 4.39, a quick ratio of 4.15 and a debt-to-equity ratio of 8.04.

Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($1.63) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.80) by $0.17. The company had revenue of $33.12 million during the quarter, compared to the consensus estimate of $32.10 million. Clovis Oncology had a negative net margin of 342.54% and a negative return on equity of 196.39%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.38) earnings per share. As a group, sell-side analysts predict that Clovis Oncology will post -6.76 EPS for the current fiscal year.

In other news, insider Lindsey Rolfe sold 1,728 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $14.70, for a total value of $25,401.60. Following the completion of the sale, the insider now directly owns 23,319 shares in the company, valued at $342,789.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 2,452 shares of company stock valued at $36,261 over the last 90 days. 8.30% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Sofinnova Investments Inc. acquired a new position in Clovis Oncology during the 4th quarter valued at $5,168,000. Dimensional Fund Advisors LP bought a new stake in Clovis Oncology in the 4th quarter valued at $5,641,000. Candriam Luxembourg S.C.A. increased its holdings in Clovis Oncology by 34.4% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 293,100 shares of the biopharmaceutical company’s stock valued at $5,264,000 after buying an additional 75,000 shares during the period. Norges Bank bought a new stake in Clovis Oncology in the 4th quarter valued at $8,351,000. Finally, Rice Hall James & Associates LLC increased its holdings in Clovis Oncology by 5.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 222,165 shares of the biopharmaceutical company’s stock valued at $5,514,000 after buying an additional 11,743 shares during the period. Hedge funds and other institutional investors own 93.19% of the company’s stock.

Clovis Oncology Company Profile (NASDAQ:CLVS)

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.

Read More: What is included in the gross domestic product?

Receive News & Ratings for Clovis Oncology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Clovis Oncology and related companies with MarketBeat.com’s FREE daily email newsletter.