Royal Bank of Canada Analysts Give Clovis Oncology (NASDAQ:CLVS) a $26.00 Price Target

Royal Bank of Canada set a $26.00 target price on Clovis Oncology (NASDAQ:CLVS) in a research note issued to investors on Friday, TipRanks reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also recently issued reports on CLVS. Piper Jaffray Companies reiterated a neutral rating on shares of Clovis Oncology in a research report on Thursday, August 1st. Gabelli reissued a buy rating on shares of Clovis Oncology in a research note on Friday. Goldman Sachs Group lowered Clovis Oncology from a neutral rating to a sell rating and dropped their price target for the company from $17.00 to $15.00 in a research note on Wednesday, May 29th. SunTrust Banks dropped their price target on Clovis Oncology to $28.00 and set a buy rating for the company in a research note on Monday, April 15th. Finally, Credit Suisse Group reissued a buy rating and set a $29.00 price target on shares of Clovis Oncology in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Clovis Oncology presently has an average rating of Hold and an average target price of $26.90.

Shares of NASDAQ:CLVS traded up $0.56 during trading on Friday, hitting $9.42. 1,991,591 shares of the company’s stock were exchanged, 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. Clovis Oncology has a 52-week low of $8.35 and a 52-week high of $38.17. The firm has a 50-day moving average of $12.67. The firm has a market capitalization of $490.83 million, a P/E ratio of -1.33 and a beta of 1.86.

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

In related news, insider Lindsey Rolfe sold 1,728 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $14.70, for a total transaction of $25,401.60. Following the completion of the transaction, the insider now directly owns 23,319 shares of the company’s stock, valued at $342,789.30. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 2,452 shares of company stock valued at $36,261. 8.30% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Gabelli Funds LLC raised its stake in shares of Clovis Oncology by 143.6% in the second quarter. Gabelli Funds LLC now owns 108,900 shares of the biopharmaceutical company’s stock valued at $1,619,000 after acquiring an additional 64,200 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Clovis Oncology by 264.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 199,550 shares of the biopharmaceutical company’s stock valued at $2,967,000 after acquiring an additional 144,850 shares during the period. Candriam Luxembourg S.C.A. lifted its position in shares of Clovis Oncology by 41.8% during 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 acquiring an additional 326,500 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Clovis Oncology by 87.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 45,589 shares of the biopharmaceutical company’s stock valued at $616,000 after acquiring an additional 21,256 shares during the period. Finally, Sector Gamma AS lifted its position in shares of Clovis Oncology by 13.6% during the 2nd quarter. Sector Gamma AS now owns 431,425 shares of the biopharmaceutical company’s stock valued at $6,415,000 after acquiring an additional 51,648 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Clovis Oncology (NASDAQ:CLVS)

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