Clovis Oncology (NASDAQ:CLVS) saw unusually-strong trading volume on Wednesday . Approximately 32,190,429 shares changed hands during trading, an increase of 223% from the previous session’s volume of 9,954,231 shares.The stock last traded at $9.43 and had previously closed at $8.90.

Several equities research analysts have issued reports on the company. BidaskClub lowered Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Bank of America set a $7.00 price objective on Clovis Oncology and gave the company a “hold” rating in a report on Friday, September 27th. ValuEngine upgraded Clovis Oncology from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Clovis Oncology in a research report on Tuesday. Finally, Piper Jaffray Companies reduced their price target on shares of Clovis Oncology from $11.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Clovis Oncology has a consensus rating of “Hold” and a consensus target price of $19.17.

The firm has a 50-day moving average of $11.17 and a 200-day moving average of $8.01. The firm has a market capitalization of $503.75 million, a P/E ratio of -1.33 and a beta of 3.13.

Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($1.72) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.89) by $0.17. The firm had revenue of $37.60 million during the quarter, compared to the consensus estimate of $35.84 million. Clovis Oncology had a negative return on equity of 1,576.32% and a negative net margin of 298.53%. The business’s revenue was up 65.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.71) earnings per share. As a group, sell-side analysts anticipate that Clovis Oncology will post -7.38 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. McAdam LLC bought a new position in shares of Clovis Oncology during the third quarter valued at about $48,000. Bank of Montreal Can increased its holdings in Clovis Oncology by 55.8% during the 2nd quarter. Bank of Montreal Can now owns 9,652 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 3,457 shares during the period. US Bancorp DE raised its position in Clovis Oncology by 24.6% during the 2nd quarter. US Bancorp DE now owns 10,991 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 2,171 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Clovis Oncology during the 2nd quarter valued at approximately $197,000. Finally, Moloney Securities Asset Management LLC bought a new position in Clovis Oncology during the 3rd quarter valued at approximately $236,000. 92.21% of the stock is currently owned by institutional investors.

About Clovis Oncology (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.

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