Tocqueville Asset Management L.P. lifted its holdings in shares of Clovis Oncology, Inc. (NASDAQ:CLVS) by 45.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 83,135 shares of the biopharmaceutical company’s stock after purchasing an additional 26,010 shares during the period. Tocqueville Asset Management L.P. owned 0.17% of Clovis Oncology worth $6,850,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Emerald Mutual Fund Advisers Trust boosted its holdings in Clovis Oncology by 32.7% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 272,813 shares of the biopharmaceutical company’s stock valued at $22,480,000 after acquiring an additional 67,164 shares during the last quarter. Emerald Advisers Inc. PA boosted its holdings in Clovis Oncology by 31.2% in the third quarter. Emerald Advisers Inc. PA now owns 333,396 shares of the biopharmaceutical company’s stock valued at $27,472,000 after acquiring an additional 79,372 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new position in Clovis Oncology in the third quarter valued at about $742,000. Bourgeon Capital Management LLC boosted its holdings in Clovis Oncology by 17.8% in the third quarter. Bourgeon Capital Management LLC now owns 10,575 shares of the biopharmaceutical company’s stock valued at $871,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in Clovis Oncology by 16.3% in the third quarter. Pictet Asset Management Ltd. now owns 367,029 shares of the biopharmaceutical company’s stock valued at $30,243,000 after buying an additional 51,366 shares during the period. Institutional investors own 98.53% of the company’s stock.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Clovis Oncology from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, October 17th. Leerink Swann cut their target price on Clovis Oncology to $107.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Clovis Oncology in a research note on Monday, September 11th. Barclays PLC initiated coverage on Clovis Oncology in a research report on Monday, October 23rd. They set an “overweight” rating and a $105.00 price target on the stock. Finally, BidaskClub downgraded Clovis Oncology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $87.15.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $84.54, for a total transaction of $253,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is currently owned by insiders.
Shares of Clovis Oncology, Inc. (CLVS) opened at $65.99 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.19 and a quick ratio of 3.16. Clovis Oncology, Inc. has a fifty-two week low of $33.23 and a fifty-two week high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.06). Clovis Oncology had a negative net margin of 947.47% and a negative return on equity of 122.06%. The company had revenue of $16.81 million during the quarter, compared to analyst estimates of $21.12 million. During the same period in the prior year, the firm earned ($1.70) earnings per share. analysts predict that Clovis Oncology, Inc. will post -7.31 earnings per share for the current fiscal year.
Clovis Oncology Company Profile
Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.
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