What’s Propelling Clovis Oncology Inc (CLVS) to Reach 52-Week High?

June 20, 2017 - By Migdalia James

Investors sentiment decreased to 1.03 in Q4 2016. Its down 0.97, from 2 in 2016Q3. It dived, as 30 investors sold Clovis Oncology Inc shares while 48 reduced holdings. 38 funds opened positions while 42 raised stakes. 35.69 million shares or 2.51% less from 36.61 million shares in 2016Q3 were reported.
Blackrock invested 0% in Clovis Oncology Inc (NASDAQ:CLVS). Retail Bank Of New York Mellon Corp owns 174,282 shares or 0% of their US portfolio. Pnc Financial Service Grp, Pennsylvania-based fund reported 2,700 shares. Creative Planning owns 8,674 shares. Citigroup Inc holds 0.01% of its portfolio in Clovis Oncology Inc (NASDAQ:CLVS) for 247,642 shares. Bnp Paribas Arbitrage Sa holds 0% of its portfolio in Clovis Oncology Inc (NASDAQ:CLVS) for 2,276 shares. Voya Inv Management Ltd holds 0% of its portfolio in Clovis Oncology Inc (NASDAQ:CLVS) for 12,469 shares. Consonance Mngmt Ltd Partnership accumulated 2.73 million shares or 13.32% of the stock. Zacks Invest Mgmt holds 0.01% or 6,635 shares in its portfolio. Blackrock Advsr Lc reported 0% in Clovis Oncology Inc (NASDAQ:CLVS). 7,023 are held by Raymond James. Alpine Woods Invsts Ltd Liability Corp has 6,000 shares. State Street owns 0.01% invested in Clovis Oncology Inc (NASDAQ:CLVS) for 2.14 million shares. The California-based California Employees Retirement Sys has invested 0% in Clovis Oncology Inc (NASDAQ:CLVS). Principal Group Inc Inc holds 0% of its portfolio in Clovis Oncology Inc (NASDAQ:CLVS) for 5,898 shares.

Since March 15, 2017, it had 0 insider buys, and 3 selling transactions for $528,600 activity. IVERS-READ GILLIAN C had sold 3,000 shares worth $200,970.

The stock of Clovis Oncology Inc (NASDAQ:CLVS) hit a new 52-week high and has $93.20 target or 4.00 % above today’s $89.62 share price. The 9 months bullish chart indicates low risk for the $5.88B company. The 1-year high was reported on Jun, 20 by Barchart.com. If the $93.20 price target is reached, the company will be worth $235.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 3.15 million shares traded or 61.54% up from the average. Clovis Oncology Inc (NASDAQ:CLVS) has risen 282.71% since June 20, 2016 and is uptrending. It has outperformed by 266.01% the S&P500.

Wall Street await Clovis Oncology Inc (NASDAQ:CLVS) to release earnings on August, 14. Analysts forecast earnings per share of $-1.37, up exactly $0.70 or 33.82 % from 2014’s $-2.07 EPS. After posting $-1.33 EPS for the previous quarter, Clovis Oncology Inc’s analysts now forecast 3.01 % negative EPS growth.

Clovis Oncology Inc (NASDAQ:CLVS) Ratings Coverage

Among 15 analysts covering Clovis Oncology (NASDAQ:CLVS), 12 have Buy rating, 0 Sell and 3 Hold. Therefore 80% are positive. Clovis Oncology has $134 highest and $15 lowest target. $48.31’s average target is -46.09% below currents $89.62 stock price. Clovis Oncology had 37 analyst reports since September 10, 2015 according to SRatingsIntel. The firm has “Neutral” rating by JP Morgan given on Wednesday, April 13. The stock has “Buy” rating by Janney Capital on Tuesday, June 20. Piper Jaffray upgraded the shares of CLVS in report on Thursday, January 26 to “Overweight” rating. As per Wednesday, September 21, the company rating was maintained by Stifel Nicolaus. As per Friday, September 23, the company rating was maintained by Suntrust Robinson. The firm has “Neutral” rating given on Monday, November 16 by Mizuho. The firm has “Hold” rating by WallachBeth Capital given on Wednesday, December 21. Chardan Capital Markets upgraded the stock to “Neutral” rating in Tuesday, December 20 report. Credit Suisse upgraded it to “Outperform” rating and $41 target in Wednesday, September 21 report. The firm has “Buy” rating given on Monday, January 23 by Stifel Nicolaus.

More notable recent Clovis Oncology Inc (NASDAQ:CLVS) news were published by: Businesswire.com which released: “Clovis Oncology Announces Presentations at 2017 ASCO Annual Meeting” on May 23, 2017, also Globenewswire.com with their article: “Sienna Biopharmaceuticals Appoints Erle Mast, Former CFO and Co-Founder of …” published on June 14, 2017, Benzinga.com published: “Mid-Afternoon Market Update: Crude Oil Down Over 1%; Clovis Oncology Shares …” on June 19, 2017. More interesting news about Clovis Oncology Inc (NASDAQ:CLVS) were released by: Nasdaq.com and their article: “Commit To Purchase Clovis Oncology At $40, Earn 24.8% Annualized Using Options” published on May 26, 2017 as well as Marketwatch.com‘s news article titled: “Clovis Oncology to launch $250 mln stock offering” with publication date: June 19, 2017.

Clovis Oncology, Inc. is a biopharmaceutical firm focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The company has market cap of $5.88 billion. The Company’s product candidates include Rociletinib, Rubraca and Lucitanib. It currently has negative earnings. 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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