Clovis Oncology (CLVS) Price Target Cut to $18.00 by Analysts at Piper Jaffray Companies

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Clovis Oncology (NASDAQ:CLVS) had its target price cut by Piper Jaffray Companies to $18.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on CLVS. BidaskClub cut shares of Clovis Oncology from a sell rating to a strong sell rating in a research report on Wednesday, October 24th. Oppenheimer restated a hold rating on shares of Clovis Oncology in a research report on Tuesday. JPMorgan Chase & Co. cut shares of Clovis Oncology from an overweight rating to a neutral rating and reduced their price target for the stock from $71.00 to $16.00 in a research report on Wednesday. Zacks Investment Research cut shares of Clovis Oncology from a hold rating to a sell rating in a research report on Tuesday, July 10th. Finally, Gabelli restated a buy rating on shares of Clovis Oncology in a research report on Monday, July 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Clovis Oncology currently has an average rating of Hold and a consensus target price of $58.79.

Shares of CLVS stock traded up $1.83 during mid-day trading on Wednesday, hitting $13.46. The company had a trading volume of 7,498,036 shares, compared to its average volume of 2,862,648. Clovis Oncology has a 52-week low of $11.50 and a 52-week high of $77.44. The company has a debt-to-equity ratio of 1.84, a quick ratio of 9.21 and a current ratio of 10.03. The company has a market capitalization of $874.51 million, a PE ratio of -2.63 and a beta of 1.08.

Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.11). Clovis Oncology had a negative return on equity of 101.04% and a negative net margin of 390.65%. The business had revenue of $22.76 million during the quarter, compared to the consensus estimate of $30.11 million. During the same quarter in the prior year, the firm posted ($1.24) EPS. The company’s revenue for the quarter was up 35.4% on a year-over-year basis. On average, research analysts predict that Clovis Oncology will post -6.58 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CLVS. Ladenburg Thalmann Financial Services Inc. increased its position in Clovis Oncology by 5,000.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,550 shares of the biopharmaceutical company’s stock valued at $135,000 after acquiring an additional 2,500 shares during the last quarter. Advisors Asset Management Inc. increased its position in Clovis Oncology by 1,017.5% during the second quarter. Advisors Asset Management Inc. now owns 56,668 shares of the biopharmaceutical company’s stock valued at $218,000 after acquiring an additional 51,597 shares during the last quarter. LPL Financial LLC increased its position in Clovis Oncology by 66.6% during the first quarter. LPL Financial LLC now owns 5,461 shares of the biopharmaceutical company’s stock valued at $288,000 after acquiring an additional 2,184 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in Clovis Oncology by 414.6% during the first quarter. Cubist Systematic Strategies LLC now owns 5,784 shares of the biopharmaceutical company’s stock valued at $305,000 after acquiring an additional 4,660 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in Clovis Oncology during the first quarter valued at $310,000.

Clovis Oncology Company Profile

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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