Analysts at StockNews.com began coverage on shares of Clovis Oncology (NASDAQ:CLVS – Get Rating) in a research note issued to investors on Monday. The firm set a "hold" rating on the biopharmaceutical company's stock.
Separately, JPMorgan Chase & Co. downgraded Clovis Oncology from a "neutral" rating to an "underweight" rating in a research report on Wednesday, November 9th.
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Clovis Oncology Stock Down 18.5 %
CLVS stock opened at $0.08 on Monday. The firm has a market capitalization of $11.60 million, a PE ratio of -0.04 and a beta of 0.24. Clovis Oncology has a twelve month low of $0.08 and a twelve month high of $3.32. The stock has a 50-day simple moving average of $0.62 and a two-hundred day simple moving average of $1.16.
Clovis Oncology (NASDAQ:CLVS – Get Rating) last posted its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.03. The company had revenue of $30.66 million for the quarter, compared to analysts' expectations of $34.79 million. On average, equities research analysts anticipate that Clovis Oncology will post -1.63 EPS for the current fiscal year.
Institutional Trading of Clovis Oncology
A number of hedge funds have recently bought and sold shares of CLVS. Vanguard Group Inc. lifted its position in Clovis Oncology by 22.1% in the 1st quarter. Vanguard Group Inc. now owns 12,348,898 shares of the biopharmaceutical company's stock worth $24,945,000 after buying an additional 2,233,797 shares during the last quarter. Millennium Management LLC lifted its position in Clovis Oncology by 49.9% in the 2nd quarter. Millennium Management LLC now owns 5,400,324 shares of the biopharmaceutical company's stock worth $9,721,000 after buying an additional 1,798,313 shares during the last quarter. Renaissance Technologies LLC lifted its position in Clovis Oncology by 139.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,459,900 shares of the biopharmaceutical company's stock worth $2,949,000 after buying an additional 849,500 shares during the last quarter. Palo Alto Investors LP lifted its position in Clovis Oncology by 11.9% in the 1st quarter. Palo Alto Investors LP now owns 4,473,967 shares of the biopharmaceutical company's stock worth $9,037,000 after buying an additional 476,141 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Clovis Oncology by 259.6% in the 3rd quarter. Marshall Wace LLP now owns 310,123 shares of the biopharmaceutical company's stock worth $370,000 after buying an additional 223,880 shares during the last quarter. Institutional investors own 29.47% of the company's stock.
Clovis Oncology Company Profile
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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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