Clovis Oncology, Inc. (CLVS) Given "Overweight" Rating at Morgan Stanley

Postado Agosto 13, 2017

On Wednesday, December 21 the stock rating was maintained by WallachBeth Capital with "Hold". Cann started coverage on Clovis Oncology in a research report on Thursday, June 22nd. They issued a "market perform" rating for the company. Stifel Nicolaus boosted their target price on Clovis Oncology from $86.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, June 19th. Gabelli initiated coverage on shares of Clovis Oncology in a research note on Friday, July 7th. They now have a $93.00 price target on the biopharmaceutical company's stock. Bank of America Corporation restated a "buy" rating and issued a $75.00 target price on shares of Clovis Oncology in a research report on Wednesday, May 17th.

Shares of Clovis Oncology (NASDAQ:CLVS) traded up 2.01% during midday trading on Thursday, reaching $70.99. Clovis Oncology has a 52-week low of $16.58 and a 52-week high of $99.45. It is now trading at $70.99 which is significantly below $87.91, the stock's 50 day moving average and well above the 200 day moving average of $66.98. Chardan Capital raised the price target and upgraded the stock on June 19 changing the price target from $15.00 to $85.00 and altering the rating from "Sell" to "Outperform".

Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Wednesday, August 2nd.

Investors wait Clovis Oncology Inc (NASDAQ:CLVS) to report on August, 14. its quarterly earnings Wall Street analysts expect $-1.29 earnings per share, up $0.78 or 37.68 % from last year's $-2.07 same quarter earnings. The business had revenue of $14.62 million for the quarter, compared to analyst estimates of $13.07 million. Clovis Oncology's revenue was down 32.5% compared to the same quarter a year ago. During the same quarter previous year, the firm posted ($2.07) earnings per share. Equities analysts anticipate that Clovis Oncology will post ($7.51) EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was reported by Week Herald and is owned by of Week Herald. If you are reading this article on another website, it was copied illegally and republished in violation of US and global copyright legislation. The legal version of this story can be accessed at https://weekherald.com/2017/08/11/clovis-oncology-inc-clvs-given-overweight-rating-at-morgan-stanley.html. The shares were sold at an average price of $47.39, for a total value of $142,170.00. Following the transaction, the insider now directly owns 203,583 shares of the company's stock, valued at $9,647,798.37. The sale was disclosed in a filing with the SEC, which is accessible through this link.

In related news, Director James C. Blair sold 18,450 shares of Clovis Oncology stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $78.61, for a total transaction of $1,450,354.50. Following the transaction, the director now owns 2,185 shares in the company, valued at approximately $171,762.85. The disclosure for this sale can be found here. Insiders have sold a total of 27,450 shares of company stock worth $2,052,665 in the last 90 days. It worsened, as 30 investors sold CLVS shares while 48 reduced holdings. First Mercantile Trust acquired a new position in Clovis Oncology during the Q1 worth at $115,000. 1,287,020 shares of the company's stock were exchanged. Vanguard Group Inc. increased its position in Clovis Oncology by 25.3% in the first quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company's stock valued at $84,788,000 after buying an additional 1,318,669 shares during the last quarter.

C WorldWide Group Holding A S cut its position in Clovis Oncology, Inc. The fund owned 7,680 shares of the biopharmaceutical company's stock at the end of the second quarter. PNC Financial Services Group Inc. raised its position in shares of Clovis Oncology by 3.7% in the first quarter. Hanseatic Management Ser owns 19 shares.

Partner Fund Management Lp increased Clovis Oncology Inc (CLVS) stake by 66.5% reported in 2016Q4 SEC filing. PNC Financial Services Group Inc. now owns 2,800 shares of the biopharmaceutical company's stock valued at $179,000 after buying an additional 100 shares during the last quarter.

Clovis Oncology, Inc.is a biopharmaceutical firm focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other worldwide markets. The Business's product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Its commercial product Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP), inhibitor of PARP1, PARP2 and PARP3 approved in the United States by the Food and Drug Administration (FDA), as monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the fix of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy based on an FDA-approved companion diagnostic for Rubraca.