Published: Tue, June 20, 2017
Economy | By Annette Adams

Clovis Oncology, Inc. (CLVS) Hits a 52-Week High

Clovis Oncology, Inc. (CLVS) Hits a 52-Week High

While Clovis shares surged on news of the ARIEL-3 data, the biotech disclosed in a securities filing that it had entered into a settlement agreement to resolve a lawsuit alleging the company misled investors about the potential of another cancer drug called rociletinib. Its down 0.97, from 2 in 2016Q3. Clovis Oncology is headquartered in Boulder, Colorado and has additional offices in San Francisco, California and Cambridge, United Kingdom. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Clovis Oncology by 71.4% in the first quarter. Alliancebernstein L.P. increased its position in shares of Clovis Oncology by 1,538.0% in the first quarter. State Street stated it has 2.14M shares or 0.01% of all its holdings. Needham upgraded the shares of UCTT in report on Monday, April 18 to "Buy" rating. Equities research analysts predict that Clovis Oncology will post ($5.07) EPS for the current year.

On last trading day, Kopin Corporation (NASDAQ:KOPN) traded 848883 shares and was closed at $3.54 per share. With 1.82 million avg volume, 5 days are for Clovis Oncology Incorporated (NASDAQ:CLVS)'s short sellers to cover CLVS's short positions.

Clovis Oncology, Inc. (NASDAQ:CLVS) has been the object of insider selling activity recently. The company has a market cap of $38.38B and its 12 month revenue was nearly $15.97B. Moreover, Quantitative Systematic Strategies Limited has 0.09% invested in Clovis Oncology Inc (NASDAQ:CLVS) for 5,067 shares. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.43) by $0.10. The firm had revenue of $7.05 million for the quarter, compared to analysts' expectations of $6.04 million. (NASDAQ:CLVS) in a research report released on Tuesday, reports. Ladenburg Thalmann Financial Services Inc. increased its stake in Clovis Oncology by 20.0% in the fourth quarter.

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A number of equities research analysts have weighed in on the company. Dougherty & Company has "Buy" rating and $8.50 target. Clovis Oncology presently has a consensus rating of "Buy" and a consensus target price of $66.87. It dived, as 30 investors sold Clovis Oncology Inc shares while 48 reduced holdings. Credit Suisse Group raised their price objective on Clovis Oncology from $53.00 to $70.00 and gave the company an outperform rating in a research note on Thursday, February 23rd.

Schmidt has an outperform rating on Clovis stock. The shares were sold at an average price of $61.82, for a total transaction of $185,460.00. Following the completion of the transaction, the insider now owns 203,583 shares of the company's stock, valued at $9,647,798.37. In the last quarter, insiders have sold 9,000 shares of company stock worth $495,690. Insiders own 17.40% of the company's stock.

Fresh cancer data from Clovis Oncology illustrates this point. Analyst Alethia Young argued that the company' ovarian cancer drug rucaparib could be a blockbuster product, and predicted success for a late-stage study underway known as Ariel3.

Rubraca was granted accelerated approval in December by the U.S. Food and Drug Administration (FDA) to treat patients whose cancer tested positive for defective BRCA genes, and whose disease had advanced despite two or more rounds of chemotherapy.

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