Clovis Oncology (CLVS) Downgraded by BidaskClub to “Strong Sell”

BidaskClub cut shares of Clovis Oncology (NASDAQ:CLVS) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday, March 21st.

A number of other equities research analysts have also commented on CLVS. Cann reissued a hold rating on shares of Clovis Oncology in a research report on Tuesday, February 27th. SunTrust Banks lowered their price target on Clovis Oncology from $95.00 to $85.00 and set a buy rating for the company in a research report on Tuesday, February 27th. ValuEngine raised Clovis Oncology from a sell rating to a hold rating in a research report on Friday, December 29th. Stifel Nicolaus lowered their price target on Clovis Oncology from $125.00 to $110.00 and set a buy rating for the company in a research report on Tuesday, February 27th. Finally, Barclays set a $85.00 price target on Clovis Oncology and gave the company a buy rating in a research report on Tuesday, February 27th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $87.60.

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Shares of CLVS traded down $0.96 during trading hours on Wednesday, reaching $61.44. The stock had a trading volume of 932,320 shares, compared to its average volume of 1,289,229. Clovis Oncology has a 12 month low of $45.42 and a 12 month high of $99.45. The company has a quick ratio of 7.35, a current ratio of 7.69 and a debt-to-equity ratio of 0.77. The stock has a market cap of $3,089.01, a P/E ratio of -12.00 and a beta of 0.93.

Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Monday, February 26th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.25. The company had revenue of $17.04 million for the quarter, compared to analysts’ expectations of $19.42 million. Clovis Oncology had a negative return on equity of 81.34% and a negative net margin of 624.02%. Clovis Oncology’s quarterly revenue was up 21746.2% compared to the same quarter last year. During the same period last year, the business earned ($1.83) EPS. analysts expect that Clovis Oncology will post -4.78 EPS for the current year.

In related news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $59.16, for a total value of $177,480.00. Following the completion of the sale, the insider now owns 183,571 shares of the company’s stock, valued at approximately $10,860,060.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thorlef Spickschen sold 4,500 shares of Clovis Oncology stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $61.47, for a total value of $276,615.00. Following the completion of the sale, the director now directly owns 12,118 shares of the company’s stock, valued at approximately $744,893.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,500 shares of company stock valued at $1,156,455. Insiders own 12.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Palo Alto Investors LLC increased its holdings in Clovis Oncology by 2.2% in the 4th quarter. Palo Alto Investors LLC now owns 3,402,781 shares of the biopharmaceutical company’s stock worth $231,389,000 after acquiring an additional 73,200 shares during the last quarter. Franklin Resources Inc. increased its holdings in Clovis Oncology by 13.8% in the 4th quarter. Franklin Resources Inc. now owns 2,634,401 shares of the biopharmaceutical company’s stock worth $179,138,000 after acquiring an additional 318,931 shares during the last quarter. Orbimed Advisors LLC increased its holdings in Clovis Oncology by 13.5% in the 3rd quarter. Orbimed Advisors LLC now owns 2,388,670 shares of the biopharmaceutical company’s stock worth $196,826,000 after acquiring an additional 284,300 shares during the last quarter. Redmile Group LLC increased its holdings in Clovis Oncology by 32.5% in the 4th quarter. Redmile Group LLC now owns 1,320,027 shares of the biopharmaceutical company’s stock worth $89,762,000 after acquiring an additional 323,417 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Clovis Oncology by 4.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,002,897 shares of the biopharmaceutical company’s stock worth $68,197,000 after acquiring an additional 41,120 shares during the last quarter.

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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.

Analyst Recommendations for Clovis Oncology (NASDAQ:CLVS)

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