Clovis Oncology, Inc. (CLVS) Trading 10.5% Higher
Shares of Clovis Oncology, Inc. (NASDAQ:CLVS) traded up 10.5% during mid-day trading on Monday . The company traded as high as $76.99 and last traded at $76.74. 4,526,235 shares traded hands during trading, an increase of 132% from the average session volume of 1,953,500 shares. The stock had previously closed at $69.46.
A number of analysts recently issued reports on the stock. Leerink Swann restated a “buy” rating and set a $107.00 target price on shares of Clovis Oncology in a research report on Monday. BidaskClub lowered shares of Clovis Oncology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Morgan Stanley restated an “overweight” rating and set a $93.00 target price on shares of Clovis Oncology in a research report on Thursday, August 10th. Bank of America Corporation restated a “buy” rating on shares of Clovis Oncology in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada assumed coverage on shares of Clovis Oncology in a research report on Thursday, September 14th. They set a “sector perform” rating and a $81.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Clovis Oncology presently has a consensus rating of “Buy” and an average target price of $84.91.
The company’s market cap is $3.72 billion. The firm’s 50-day moving average price is $73.35 and its 200 day moving average price is $69.15.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.27) by ($0.02). The business had revenue of $14.62 million for the quarter, compared to analysts’ expectations of $13.07 million. The business’s revenue for the quarter was down 32.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.07) EPS. Equities research analysts expect that Clovis Oncology, Inc. will post ($7.56) earnings per share for the current year.
In other Clovis Oncology news, Director James C. Blair sold 18,450 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $78.61, for a total value of $1,450,354.50. Following the transaction, the director now owns 2,185 shares in the company, valued at approximately $171,762.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $91.56, for a total transaction of $274,680.00. Following the completion of the transaction, the insider now owns 197,583 shares in the company, valued at approximately $18,090,699.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,450 shares of company stock worth $2,143,685. Company insiders own 17.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CLVS. FMR LLC increased its stake in Clovis Oncology by 271.4% in the 1st quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock valued at $115,679,000 after buying an additional 1,327,703 shares during the period. Wellington Management Group LLP increased its stake in Clovis Oncology by 10,143.6% in the 1st quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company’s stock valued at $84,788,000 after buying an additional 1,318,669 shares during the period. Jennison Associates LLC grew its position in Clovis Oncology by 222.5% in the second quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock worth $110,968,000 after acquiring an additional 817,677 shares in the last quarter. Alliancebernstein L.P. grew its position in Clovis Oncology by 1,538.0% in the first quarter. Alliancebernstein L.P. now owns 754,122 shares of the biopharmaceutical company’s stock worth $48,015,000 after acquiring an additional 708,082 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Clovis Oncology by 70.3% in the second quarter. Franklin Resources Inc. now owns 1,665,200 shares of the biopharmaceutical company’s stock worth $155,913,000 after acquiring an additional 687,300 shares in the last quarter. Hedge funds and other institutional investors own 99.03% of the company’s stock.
Clovis Oncology Company Profile
Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.
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