JPMorgan Chase & Co. reaffirmed their buy rating on shares of Clovis Oncology (NASDAQ:CLVS) in a research report released on Friday, The Fly reports. The firm currently has a $71.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on the company. Guggenheim began coverage on Clovis Oncology in a report on Monday, September 17th. They issued a buy rating for the company. Cann began coverage on Clovis Oncology in a report on Wednesday, August 8th. They issued a hold rating for the company. ValuEngine raised Clovis Oncology from a strong sell rating to a sell rating in a report on Thursday, August 2nd. Gabelli reaffirmed a buy rating on shares of Clovis Oncology in a report on Monday, July 16th. Finally, Zacks Investment Research cut Clovis Oncology from a hold rating to a sell rating in a report on Tuesday, July 10th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $78.87.

Shares of CLVS opened at $32.64 on Friday. Clovis Oncology has a 12-month low of $31.19 and a 12-month high of $86.26. The company has a quick ratio of 9.21, a current ratio of 10.03 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -6.38 and a beta of 1.02.

Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.56). Clovis Oncology had a negative return on equity of 94.28% and a negative net margin of 382.83%. The firm had revenue of $23.76 million during the quarter, compared to analyst estimates of $22.44 million. During the same period in the previous year, the company earned ($1.29) EPS. Clovis Oncology’s revenue for the quarter was up 62.5% on a year-over-year basis. research analysts forecast that Clovis Oncology will post -6.77 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of CLVS. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Clovis Oncology by 5,000.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,550 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 2,500 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Clovis Oncology in the first quarter valued at about $146,000. Advisors Asset Management Inc. increased its stake in shares of Clovis Oncology by 1,017.5% in the second quarter. Advisors Asset Management Inc. now owns 56,668 shares of the biopharmaceutical company’s stock valued at $218,000 after buying an additional 51,597 shares during the period. Summit Trail Advisors LLC increased its stake in shares of Clovis Oncology by 4,092.7% in the first quarter. Summit Trail Advisors LLC now owns 249,258 shares of the biopharmaceutical company’s stock valued at $249,000 after buying an additional 243,313 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Clovis Oncology by 66.6% in the first quarter. LPL Financial LLC now owns 5,461 shares of the biopharmaceutical company’s stock valued at $288,000 after buying an additional 2,184 shares during the period.

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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Analyst Recommendations for Clovis Oncology (NASDAQ:CLVS)

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