Clovis Oncology (NASDAQ:CLVS) Upgraded to Hold at BidaskClub

Clovis Oncology (NASDAQ:CLVS) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.

CLVS has been the topic of a number of other research reports. Zacks Investment Research raised Clovis Oncology from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Clovis Oncology in a research report on Monday, September 30th. Svb Leerink lowered Clovis Oncology from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $22.00 to $10.00 in a research report on Tuesday, September 24th. ValuEngine lowered Clovis Oncology from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Leerink Swann lowered Clovis Oncology from an “outperform” rating to a “market perform” rating and set a $10.00 target price on the stock. in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Clovis Oncology has an average rating of “Hold” and an average price target of $19.92.

NASDAQ CLVS opened at $16.43 on Tuesday. The firm has a market cap of $818.39 million, a P/E ratio of -2.32 and a beta of 3.12. The company has a debt-to-equity ratio of 8.04, a current ratio of 3.76 and a quick ratio of 3.53. The stock’s 50-day moving average is $6.14 and its 200-day moving average is $8.99. Clovis Oncology has a one year low of $2.93 and a one year high of $32.05.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Redmile Group LLC raised its holdings in Clovis Oncology by 4.2% in the 3rd quarter. Redmile Group LLC now owns 3,607,800 shares of the biopharmaceutical company’s stock valued at $14,179,000 after acquiring an additional 145,500 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Clovis Oncology by 41.8% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 1,108,123 shares of the biopharmaceutical company’s stock valued at $16,405,000 after purchasing an additional 326,500 shares during the last quarter. Sector Gamma AS increased its stake in shares of Clovis Oncology by 13.6% in the 2nd quarter. Sector Gamma AS now owns 431,425 shares of the biopharmaceutical company’s stock valued at $6,415,000 after purchasing an additional 51,648 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Clovis Oncology in the 2nd quarter valued at $5,512,000. Finally, Gamco Investors INC. ET AL grew its position 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 during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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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