Clovis Oncology (NASDAQ:CLVS) Lowered to “Neutral” at HC Wainwright

HC Wainwright lowered shares of Clovis Oncology (NASDAQ:CLVSGet Rating) from a buy rating to a neutral rating in a research report sent to investors on Friday, The Fly reports.

Separately, StockNews.com assumed coverage on Clovis Oncology in a research note on Thursday, March 31st. They issued a hold rating for the company.

Shares of NASDAQ CLVS traded down $0.48 during midday trading on Friday, hitting $0.99. 36,757,412 shares of the company’s stock were exchanged, compared to its average volume of 5,684,549. Clovis Oncology has a 12 month low of $0.96 and a 12 month high of $7.24. The company’s 50 day moving average price is $1.95 and its 200 day moving average price is $2.59.

Clovis Oncology (NASDAQ:CLVSGet Rating) last issued its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.01). During the same period in the prior year, the company posted ($0.64) earnings per share. Analysts predict that Clovis Oncology will post -1.59 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLVS. Invesco Ltd. boosted its stake in Clovis Oncology by 92.5% in the 2nd quarter. Invesco Ltd. now owns 40,072 shares of the biopharmaceutical company’s stock valued at $232,000 after purchasing an additional 19,254 shares during the period. SG Americas Securities LLC raised its holdings in Clovis Oncology by 274.0% in the 3rd quarter. SG Americas Securities LLC now owns 71,350 shares of the biopharmaceutical company’s stock valued at $318,000 after acquiring an additional 52,271 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Clovis Oncology by 5.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 66,975 shares of the biopharmaceutical company’s stock valued at $299,000 after acquiring an additional 3,185 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in Clovis Oncology by 11.6% in the 3rd quarter. Advisor Group Holdings Inc. now owns 42,570 shares of the biopharmaceutical company’s stock valued at $189,000 after acquiring an additional 4,428 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Clovis Oncology by 3.2% in the 3rd quarter. Mackenzie Financial Corp now owns 78,777 shares of the biopharmaceutical company’s stock valued at $351,000 after acquiring an additional 2,468 shares in the last quarter. Institutional investors and hedge funds own 36.64% of the company’s stock.

Clovis Oncology Company Profile (Get Rating)

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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