JPMorgan Chase & Co. Reaffirms “Hold” Rating for Clovis Oncology (NASDAQ:CLVS)

Clovis Oncology (NASDAQ:CLVS)‘s stock had its “hold” rating reiterated by stock analysts at JPMorgan Chase & Co. in a report issued on Tuesday, AnalystRatings.com reports.

A number of other equities research analysts also recently issued reports on the company. Piper Jaffray Companies lowered their price objective on Clovis Oncology from $11.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. ValuEngine upgraded Clovis Oncology from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Evercore ISI downgraded Clovis Oncology from an “outperform” rating to an “in-line” rating in a research report on Wednesday, November 27th. BidaskClub downgraded Clovis Oncology from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, Svb Leerink downgraded Clovis Oncology from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $22.00 to $10.00 in a research report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Clovis Oncology currently has an average rating of “Hold” and a consensus target price of $19.17.

Shares of CLVS stock opened at $8.70 on Tuesday. Clovis Oncology has a 52-week low of $2.93 and a 52-week high of $32.05. The company has a market capitalization of $503.75 million, a PE ratio of -1.23 and a beta of 3.13. The business’s fifty day moving average is $11.23 and its 200 day moving average is $8.05.

Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($1.72) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.89) by $0.17. Clovis Oncology had a negative return on equity of 1,576.32% and a negative net margin of 298.53%. The company had revenue of $37.60 million for the quarter, compared to the consensus estimate of $35.84 million. During the same quarter last year, the business posted ($1.71) earnings per share. The firm’s revenue was up 65.2% compared to the same quarter last year. Sell-side analysts predict that Clovis Oncology will post -7.38 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Man Group plc raised its position in Clovis Oncology by 1.2% during the second quarter. Man Group plc now owns 169,524 shares of the biopharmaceutical company’s stock valued at $2,521,000 after purchasing an additional 2,000 shares in the last quarter. US Bancorp DE raised its position in Clovis Oncology by 24.6% during the second quarter. US Bancorp DE now owns 10,991 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 2,171 shares in the last quarter. California State Teachers Retirement System raised its position in Clovis Oncology by 4.4% during the third quarter. California State Teachers Retirement System now owns 78,454 shares of the biopharmaceutical company’s stock valued at $308,000 after purchasing an additional 3,279 shares in the last quarter. Bank of Montreal Can raised its position in Clovis Oncology by 55.8% during the second quarter. Bank of Montreal Can now owns 9,652 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 3,457 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in Clovis Oncology by 13.3% during the second quarter. UBS Asset Management Americas Inc. now owns 39,047 shares of the biopharmaceutical company’s stock valued at $581,000 after purchasing an additional 4,571 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.

Featured Article: What is meant by buying and selling pressure?

Analyst Recommendations for Clovis Oncology (NASDAQ:CLVS)

Receive News & Ratings for Clovis Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clovis Oncology and related companies with MarketBeat.com's FREE daily email newsletter.