Clovis Oncology (CLVS) Stock Price Up 7.3%

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Shares of Clovis Oncology (NASDAQ:CLVS) rose 7.3% during trading on Friday . The company traded as high as $24.11 and last traded at $24.00. Approximately 2,420,601 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 2,457,646 shares. The stock had previously closed at $22.37.

CLVS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $71.00 target price on shares of Clovis Oncology in a research report on Friday, September 21st. Leerink Swann initiated coverage on Clovis Oncology in a research report on Monday, September 24th. They issued a “market perform” rating and a $30.00 target price for the company. reissued a “hold” rating on shares of Clovis Oncology in a report on Tuesday, October 2nd. BidaskClub raised Clovis Oncology from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th. Finally, Piper Jaffray Companies assumed coverage on Clovis Oncology in a report on Thursday, October 18th. They set a “hold” rating and a $33.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $56.32.

The company has a quick ratio of 8.46, a current ratio of 9.03 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -4.69 and a beta of 1.74.

Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.11). Clovis Oncology had a negative net margin of 390.65% and a negative return on equity of 108.92%. The firm had revenue of $22.76 million during the quarter, compared to analysts’ expectations of $30.11 million. During the same quarter in the previous year, the company posted ($1.24) EPS. Clovis Oncology’s revenue for the quarter was up 35.4% on a year-over-year basis. As a group, analysts forecast that Clovis Oncology will post -6.92 earnings per share for the current year.

In other Clovis Oncology news, insider Lindsey Rolfe sold 1,728 shares of the stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $17.72, for a total transaction of $30,620.16. Following the sale, the insider now owns 17,600 shares in the company, valued at $311,872. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 10.20% of the company’s stock.

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its holdings in shares of Clovis Oncology by 37.9% in the second quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the biopharmaceutical company’s stock worth $339,000 after purchasing an additional 2,056 shares during the period. Pacer Advisors Inc. bought a new position in Clovis Oncology in the third quarter valued at $226,000. Zeke Capital Advisors LLC bought a new position in Clovis Oncology in the third quarter valued at $268,000. Comerica Bank bought a new position in Clovis Oncology in the third quarter valued at $241,000. Finally, Marshall Wace LLP bought a new position in Clovis Oncology in the third quarter valued at $423,000.

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Clovis Oncology Company Profile (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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