Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Clovis Oncology from a hold rating to a sell rating in a research report on Monday, April 8th. HC Wainwright restated a buy rating and set a $36.00 target price on shares of Clovis Oncology in a research report on Tuesday, May 21st. JPMorgan Chase & Co. restated a hold rating and set a $27.00 target price on shares of Clovis Oncology in a research report on Monday, June 3rd. Credit Suisse Group restated a buy rating and set a $29.00 target price on shares of Clovis Oncology in a research report on Wednesday, May 15th. Finally, ValuEngine upgraded shares of Clovis Oncology from a sell rating to a hold rating in a research report on Monday, April 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Clovis Oncology currently has an average rating of Hold and an average target price of $27.44.
Clovis Oncology stock opened at $13.37 on Tuesday. The company has a debt-to-equity ratio of 8.04, a current ratio of 4.39 and a quick ratio of 4.15. Clovis Oncology has a 1 year low of $11.50 and a 1 year high of $50.00.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($1.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.80) by $0.17. Clovis Oncology had a negative net margin of 342.54% and a negative return on equity of 196.39%. The company had revenue of $33.12 million for the quarter, compared to the consensus estimate of $32.10 million. During the same period in the prior year, the company posted ($1.38) EPS. The company’s revenue was up 78.8% compared to the same quarter last year. Analysts expect that Clovis Oncology will post -6.75 earnings per share for the current year.
In related news, insider Lindsey Rolfe sold 1,729 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $26.13, for a total value of $45,178.77. Following the sale, the insider now directly owns 20,953 shares in the company, valued at approximately $547,501.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 2,453 shares of company stock worth $56,038 over the last quarter. 8.30% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in CLVS. Samlyn Capital LLC acquired a new stake in shares of Clovis Oncology in the 4th quarter valued at approximately $18,054,000. Westfield Capital Management Co. LP acquired a new stake in shares of Clovis Oncology in the 1st quarter valued at approximately $20,016,000. Orbimed Advisors LLC raised its position in shares of Clovis Oncology by 23.2% in the 4th quarter. Orbimed Advisors LLC now owns 2,752,200 shares of the biopharmaceutical company’s stock valued at $49,430,000 after acquiring an additional 517,630 shares during the period. Redmile Group LLC raised its position 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 valued at $113,277,000 after acquiring an additional 503,400 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Clovis Oncology by 166.7% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 781,623 shares of the biopharmaceutical company’s stock valued at $19,401,000 after acquiring an additional 488,523 shares during the period. Institutional investors and hedge funds own 93.28% of the company’s stock.
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.
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