Legato Capital Management LLC Invests $220000 in Clovis Oncology, Inc. (CLVS)
04 August, 2017, 22:53 | Author: Becky Perry
Finally, Gabelli started coverage on shares of Clovis Oncology in a report on Friday, July 7th. They now have a Dollars 107 price target on the stock. Successful commercialization will significantly boost Clovis' sales. For the long-term approach of trading or also can for short period of time, 200 days MA can also help to get idea about trading, CLVS has 42.82% which indicates Bullish trends and this can also make isolating trends easier.
The company is entering Phase 3 trials for its ARIEL3 study involving Rubraca for use in treating ovarian cancer.
Let's take a look at how the stock has been performing recently. Loss estimates have widened lately ahead of the Q2 results. Earnings, adjusted for one-time gains and costs, were 84 cents per share. Wall Street is only getting more bullish on the stock, with 4 of analysts who cover MSCI having a buy-equivalent rating. Bank of America Corporation reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Clovis Oncology in a research report on Wednesday, May 17th. The same analysts are predicting that the company shares will trade to $94.30 within the next 12-18 months. BidaskClub upgraded Clovis Oncology from a "hold" rating to a "buy" rating in a research note on Wednesday, June 21st. Cann reiterated a "hold" rating on shares of Clovis Oncology in a research note on Monday. J.P. Morgan maintained it with "Buy" rating and $7200 target in Thursday, June 1 report. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. CLVS's current price-earnings ratio amounts above the average P/E ratio of 160.62 times earnings.
Following U.S. election volatility some analysts have updated their recommended target prices on shares of Clovis Oncology, Inc. The firm has fifty days moving average percentage of 4.50% to its latest price change. Clovis Oncology has a 12 month low of $14.62 and a 12 month high of $99.45. The market capitalization for the company is reported at $3.94 billion. On average, analysts anticipate that Clovis Oncology, Inc. will post ($5.96) EPS for the current fiscal year. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing analysts' consensus estimates of ($1.27) by $0.02. Clovis said Thursday that Rubraca, launched December 19, had more than doubled its revenue from the first to second quarters, from $7 million to $14.6 million. Clovis Oncology's revenue was down 32.5% compared to the same quarter past year. During the same period past year, the company posted ($2.07) EPS.
Shares of Clovis dove about 3.5%, or about $2.88 per share, midday Thursday to $78.78. "(CLVS) Upgraded to Buy by Zacks Investment Research" was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of worldwide copyright & trademark legislation.
In related news, insider Gillian C. Ivers-Read sold 3,000 shares of the business's stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $91.56, for a total transaction of $274,680.00. Following the sale, the insider now owns 200,583 shares in the company, valued at $12,400,041.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the past three months the stock value plunged -8.50%. TIAA CREF Investment Management LLC now owns 314,453 shares of the biopharmaceutical company's stock valued at $20,021,000 after buying an additional 41,383 shares in the last quarter.
Several institutional investors have recently added to or reduced their stakes in the stock. Moody Aldrich Partners LLC purchased a new position in Clovis Oncology during the first quarter valued at $688,000. FMR LLC boosted its stake in Clovis Oncology by 271.4% in the first quarter. Advisors Asset Management Inc. now owns 1,895 shares of the biopharmaceutical company's stock valued at $177,000 after buying an additional 1,168 shares during the last quarter. First Mercantile Trust Co. bought a new position in Clovis Oncology during the first quarter valued at about $115,000. Norges Bank purchased a new stake in shares of Clovis Oncology during the fourth quarter valued at approximately $13,155,000. BNP Paribas Arbitrage SA now owns 5,250 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 4,446 shares during the period.
Clovis Oncology, Inc.is a biopharmaceutical firm focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other global markets.
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