Clovis Oncology (NASDAQ:CLVS) was downgraded by equities researchers at BidaskClub from a "sell" rating to a "strong sell" rating in a report released on Thursday, BidAskClub reports.
Several other equities analysts have also recently issued reports on the stock. Royal Bank of Canada restated a "buy" rating and set a $17.00 target price on shares of Clovis Oncology in a research note on Monday, April 20th. HC Wainwright reiterated a "buy" rating on shares of Clovis Oncology in a research note on Thursday, August 6th. Piper Sandler increased their price objective on shares of Clovis Oncology from $5.25 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. SVB Leerink lowered their price objective on shares of Clovis Oncology from $5.00 to $4.00 and set an "underperform" rating on the stock in a research note on Wednesday, May 20th. Finally, Bank of America cut shares of Clovis Oncology from a "neutral" rating to an "underperform" rating in a research note on Sunday, April 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Clovis Oncology currently has an average rating of "Hold" and a consensus target price of $11.07.
CLVS opened at $4.90 on Thursday. The stock has a market capitalization of $388.35 million, a P/E ratio of -0.81 and a beta of 2.40. The company's 50-day simple moving average is $6.38 and its two-hundred day simple moving average is $7.32. Clovis Oncology has a 52-week low of $2.93 and a 52-week high of $17.37.
Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($1.04) by ($0.11). Research analysts forecast that Clovis Oncology will post -4.13 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its holdings in Clovis Oncology by 61.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,387 shares of the biopharmaceutical company's stock valued at $43,000 after buying an additional 2,420 shares in the last quarter. Evoke Wealth LLC purchased a new stake in Clovis Oncology during the 1st quarter valued at approximately $64,000. Moloney Securities Asset Management LLC purchased a new stake in Clovis Oncology during the 1st quarter valued at approximately $70,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Clovis Oncology during the 1st quarter valued at approximately $72,000. Finally, Amalgamated Bank purchased a new stake in Clovis Oncology during the 2nd quarter valued at approximately $78,000. 44.18% of the stock is owned by institutional investors and hedge funds.
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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