Shares of Clovis Oncology (NASDAQ:CLVS) gapped up prior to trading on Tuesday . The stock had previously closed at $16.51, but opened at $16.43. Clovis Oncology shares last traded at $14.57, with a volume of 10,719,223 shares changing hands.

A number of brokerages recently issued reports on CLVS. Leerink Swann cut shares of Clovis Oncology from an “outperform” rating to a “market perform” rating and set a $10.00 price objective for the company. in a report on Tuesday, September 24th. BidaskClub upgraded Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised Clovis Oncology from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, November 27th. ValuEngine downgraded Clovis Oncology from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Evercore ISI lowered Clovis Oncology from an “outperform” rating to an “in-line” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Clovis Oncology has an average rating of “Hold” and an average price target of $19.92.

The business has a fifty day moving average of $6.14 and a 200-day moving average of $8.99. The company has a market cap of $818.39 million, a PE ratio of -2.07 and a beta of 3.12. The company has a current ratio of 3.76, a quick ratio of 3.53 and a debt-to-equity ratio of 8.04.

Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($1.72) earnings per share for the quarter, topping the consensus estimate of ($1.89) by $0.17. Clovis Oncology had a negative return on equity of 1,576.32% and a negative net margin of 298.53%. The business had revenue of $37.60 million during the quarter, compared to analysts’ expectations of $35.84 million. During the same quarter last year, the business posted ($1.71) EPS. The business’s revenue was up 65.2% on a year-over-year basis. As a group, research analysts predict that Clovis Oncology will post -7.19 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Nuveen Asset Management LLC bought a new stake in shares of Clovis Oncology during the 2nd quarter worth approximately $5,512,000. Candriam Luxembourg S.C.A. raised its holdings in shares of Clovis Oncology by 41.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 1,108,123 shares of the biopharmaceutical company’s stock valued at $16,405,000 after acquiring an additional 326,500 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Clovis Oncology by 614.9% in the third quarter. Squarepoint Ops LLC now owns 292,844 shares of the biopharmaceutical company’s stock worth $1,151,000 after acquiring an additional 251,881 shares during the period. First Midwest Bank Trust Division purchased a new stake in Clovis Oncology in the third quarter worth about $818,000. Finally, Gamco Investors INC. ET AL grew its holdings in Clovis Oncology by 85.1% during the 3rd quarter. Gamco Investors INC. ET AL now owns 369,375 shares of the biopharmaceutical company’s stock worth $1,452,000 after acquiring an additional 169,825 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other 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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