Clovis Oncology (NASDAQ:CLVS) Given a $36.00 Price Target at Barclays

Clovis Oncology (NASDAQ:CLVS) has been given a $36.00 target price by equities research analysts at Barclays in a note issued to investors on Friday, TipRanks reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Barclays‘s price objective indicates a potential upside of 282.17% from the company’s previous close.

A number of other analysts have also recently weighed in on CLVS. Guggenheim cut Clovis Oncology from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Clovis Oncology from a “buy” rating to a “hold” rating in a report on Monday, May 13th. HC Wainwright reaffirmed a “buy” rating on shares of Clovis Oncology in a report on Wednesday, July 3rd. BidaskClub downgraded Clovis Oncology from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. Finally, ValuEngine raised Clovis Oncology from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $26.90.

Shares of NASDAQ CLVS traded up $0.56 during mid-day trading on Friday, reaching $9.42. The company had a trading volume of 129,788 shares, compared to its average volume of 2,092,799. The company has a debt-to-equity ratio of 8.04, a quick ratio of 4.15 and a current ratio of 4.39. The stock has a market capitalization of $490.83 million, a PE ratio of -1.33 and a beta of 1.86. The business has a 50-day moving average price of $12.67. Clovis Oncology has a 1-year low of $8.35 and a 1-year high of $38.17.

Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($2.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.70) by ($0.57). The company had revenue of $32.98 million during the quarter, compared to analyst estimates of $34.92 million. Clovis Oncology had a negative return on equity of 261.09% and a negative net margin of 332.18%. The business’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.94) earnings per share. Sell-side analysts predict that Clovis Oncology will post -6.93 earnings per share for the current fiscal year.

In other Clovis Oncology news, insider Lindsey Rolfe sold 1,728 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $14.70, for a total value of $25,401.60. Following the sale, the insider now owns 23,319 shares in the company, valued at $342,789.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,452 shares of company stock worth $36,261 over the last three months. 8.30% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CLVS. Ropes Wealth Advisors LLC acquired a new position in Clovis Oncology in the second quarter valued at $27,000. Pearl River Capital LLC acquired a new position in Clovis Oncology in the first quarter valued at $40,000. Aperio Group LLC acquired a new position in Clovis Oncology in the second quarter valued at $48,000. CWM Advisors LLC acquired a new position in Clovis Oncology in the second quarter valued at $167,000. Finally, Bourgeon Capital Management LLC acquired a new position in Clovis Oncology in the second quarter valued at $186,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

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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