Clovis Oncology (CLVS) Stock Rating Lowered by SunTrust Banks

SunTrust Banks cut shares of Clovis Oncology (NASDAQ:CLVS) to a buy rating in a research note issued to investors on Wednesday, The Fly reports. SunTrust Banks currently has $70.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $20.00. SunTrust Banks also issued estimates for Clovis Oncology’s Q4 2018 earnings at ($1.74) EPS, FY2018 earnings at ($6.51) EPS, FY2019 earnings at ($4.84) EPS, FY2020 earnings at ($3.66) EPS, FY2021 earnings at ($2.68) EPS and FY2022 earnings at ($1.59) EPS.

Several other equities analysts have also recently weighed in on the stock. Oppenheimer reaffirmed a hold rating on shares of Clovis Oncology in a research note on Tuesday, October 30th. JPMorgan Chase & Co. lowered shares of Clovis Oncology from an overweight rating to a neutral rating and lowered their price objective for the company from $71.00 to $16.00 in a research report on Wednesday. BidaskClub lowered shares of Clovis Oncology from a sell rating to a strong sell rating in a research report on Wednesday, October 24th. Piper Jaffray Companies reiterated a neutral rating on shares of Clovis Oncology in a research report on Friday, October 19th. Finally, Cann reiterated a hold rating on shares of Clovis Oncology in a research report on Friday, October 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $56.32.

CLVS opened at $14.51 on Wednesday. Clovis Oncology has a fifty-two week low of $11.50 and a fifty-two week high of $74.60. The company has a current ratio of 10.03, a quick ratio of 9.21 and a debt-to-equity ratio of 1.84.

Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.60) by ($0.11). The company had revenue of $22.76 million for the quarter, compared to analysts’ expectations of $30.11 million. Clovis Oncology had a negative net margin of 390.65% and a negative return on equity of 101.04%. The business’s revenue was up 35.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.24) earnings per share. On average, equities analysts forecast that Clovis Oncology will post -6.65 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. lifted its position in Clovis Oncology by 5,000.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,550 shares of the biopharmaceutical company’s stock valued at $135,000 after purchasing an additional 2,500 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Clovis Oncology by 66.6% in the 1st quarter. LPL Financial LLC now owns 5,461 shares of the biopharmaceutical company’s stock worth $288,000 after acquiring an additional 2,184 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Clovis Oncology by 414.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 5,784 shares of the biopharmaceutical company’s stock worth $305,000 after acquiring an additional 4,660 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Clovis Oncology in the 1st quarter worth about $310,000. Finally, Greenwood Capital Associates LLC lifted its holdings in shares of Clovis Oncology by 25.3% in the 2nd quarter. Greenwood Capital Associates LLC now owns 6,981 shares of the biopharmaceutical company’s stock worth $317,000 after acquiring an additional 1,408 shares during the last quarter.

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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