Clovis Oncology (CLVS) – Research Analysts’ Weekly Ratings Updates

Clovis Oncology (NASDAQ: CLVS) has recently received a number of price target changes and ratings updates:

  • 6/3/2019 – Clovis Oncology had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $27.00 price target on the stock.
  • 5/29/2019 – Clovis Oncology was downgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “sell” rating. They now have a $15.00 price target on the stock, down previously from $17.00.
  • 5/21/2019 – Clovis Oncology had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $36.00 price target on the stock.
  • 5/15/2019 – Clovis Oncology had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $29.00 price target on the stock.
  • 5/13/2019 – Clovis Oncology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Clovis reported encouraging first-quarter results wherein its earnings and sales beat estimates. Market share of Clovis’ sole marketed drug Rubraca in the ovarian cancer PARP inhibitor market improved during the first quarter. Approval in second-line maintenance setting for ovarian cancer irrespective of BRCA-mutation is a positive. Successful development of Rubraca in several ongoing studies targeting different types of ovarian cancer patients is likely to boost the drug’s prospects. The company is actively working on expanding the label of Rubraca as monotherapy or combination therapy in and beyond ovarian cancer. However, Rubraca faces strong competition from other PARP inhibitors in the market, Lynparza and Zejula. Moreover, competition is likely to increase with several PARP inhibitors under development. Clovis’ shares have outperformed the industry so far this year.”
  • 5/1/2019 – Clovis Oncology was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 4/30/2019 – Clovis Oncology was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $21.00 price target on the stock. According to Zacks, “Sales of the company’s sole marketed drug Rubraca recovered in the fourth quarter of 2018 on the back of awareness programs. However, the drug faced challenges in its adoption, which may continue going forward. Moreover, Rubraca faces strong competition from other PARP inhibitors in the market, Lynparza and Zejula. Meanwhile, several studies on Rubraca, targeting different types of ovarian cancer patients, are currently underway. Successful development is likely to bolster the prospect of the drug. The company is actively working on expanding the label of Rubraca as monotherapy or combination therapy in and beyond ovarian cancer. Clovis’ shares have underperformed the industry in the past six months. Clovis’ shares have outperformed the industry so far this year. Loss estimates have been stable ahead of the company’s Q1 earnings release. The company has a dismal record of earnings surprises in the recent quarters.”
  • 4/22/2019 – Clovis Oncology was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Sales of Clovis’ sole marketed drug Rubraca recovered in the fourth quarter of 2018 due to its awareness programs. Approval in second-line maintenance setting for ovarian cancer irrespective of BRCA-mutation is encouraging. Successful development of Rubraca in several ongoing studies targeting different types of ovarian cancer patients is likely to bolster the prospect of the drug. The company is actively working on expanding the label of Rubraca as monotherapy or combination therapy in and beyond ovarian cancer. However, Rubraca faces strong competition from other PARP inhibitors in the market, Lynparza and Zejula. Moreover, competition is likely to increase with several PARP inhibitors under development. Clovis’ shares have outperformed the industry so far this year. Loss estimates have narrowed ahead of the company’s Q1 earnings release. The company has a dismal record of earnings surprises in the recent quarters.”
  • 4/16/2019 – Clovis Oncology was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 4/16/2019 – Clovis Oncology was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Sales of the company’s sole marketed drug Rubraca recovered in the fourth quarter of 2018 on the back of awareness programs. However, the drug faced challenges in its adoption, which may continue going forward. Moreover, Rubraca faces strong competition from other PARP inhibitors in the market, Lynparza and Zejula. Meanwhile, several studies on Rubraca, targeting different types of ovarian cancer patients, are currently underway. Successful development is likely to bolster the prospect of the drug. The company is actively working on expanding the label of Rubraca as monotherapy or combination therapy in and beyond ovarian cancer. Clovis’ shares have underperformed the industry in the past six months. Clovis’ shares have outperformed the industry so far this year. Loss estimates have been stable ahead of the company’s Q1 earnings release. The company has a dismal record of earnings surprises in the recent quarters.”
  • 4/15/2019 – Clovis Oncology had its price target lowered by analysts at SunTrust Banks, Inc. to $28.00. They now have a “buy” rating on the stock.
  • 4/15/2019 – Clovis Oncology had its price target lowered by analysts at HC Wainwright from $39.00 to $37.00. They now have a “buy” rating on the stock.
  • 4/14/2019 – Clovis Oncology had its price target lowered by analysts at Piper Jaffray Companies from $23.00 to $21.00. They now have a “neutral” rating on the stock.
  • 4/8/2019 – Clovis Oncology was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Sales of Clovis’ sole marketed drug Rubraca recovered in the fourth quarter of 2018 on the back of awareness programs. However, the drug faced challenges in its adoption, which may continue going forward. Moreover, Rubraca faces strong competition from other PARP inhibitors in the market, Lynparza and Zejula. Meanwhile, several studies on Rubraca, targeting different types of ovarian cancer patients, are currently underway. Successful development is likely to bolster the prospect of the drug. The company is actively working on expanding the label of Rubraca as monotherapy or combination therapy in and beyond ovarian cancer. Clovis’ shares have outperformed the industry in the year so far. Loss estimates have been stable ahead of the company’s Q1 earnings release. The company has a dismal record of earnings surprises in the recent quarters.”
  • 4/7/2019 – Clovis Oncology had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co..

Clovis Oncology stock opened at $14.90 on Tuesday. The company has a quick ratio of 4.15, a current ratio of 4.39 and a debt-to-equity ratio of 8.04. The firm has a market cap of $783.41 million, a price-to-earnings ratio of -2.11 and a beta of 1.99. Clovis Oncology has a twelve month low of $11.50 and a twelve month high of $50.00.

Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($1.63) EPS for the quarter, beating the consensus estimate of ($1.80) by $0.17. Clovis Oncology had a negative return on equity of 196.39% and a negative net margin of 342.54%. The firm had revenue of $33.12 million during the quarter, compared to analyst estimates of $32.10 million. During the same quarter in the prior year, the business posted ($1.38) EPS. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. Analysts anticipate that Clovis Oncology will post -6.75 earnings per share for the current fiscal year.

In other news, insider Lindsey Rolfe sold 1,729 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $26.13, for a total transaction of $45,178.77. Following the completion of the sale, the insider now owns 20,953 shares in the company, valued at approximately $547,501.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James C. Blair sold 17,056 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $27.79, for a total value of $473,986.24. Following the sale, the director now owns 13,439 shares of the company’s stock, valued at approximately $373,469.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,056 shares of company stock valued at $523,197. Company insiders own 8.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Pearl River Capital LLC purchased a new stake in shares of Clovis Oncology during the 1st quarter valued at $40,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Clovis Oncology during the 1st quarter valued at $62,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Clovis Oncology by 93.4% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,146 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,519 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Clovis Oncology by 54.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 7,034 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 2,489 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Clovis Oncology in the 1st quarter worth $192,000. Hedge funds and other institutional investors own 93.28% of the company’s stock.

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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