Analyst Rating Update on Clovis Oncology (CLVS)

Clovis Oncology (NASDAQ:CLVS) : 6 analysts are covering Clovis Oncology (NASDAQ:CLVS) and their average rating on the stock is 2.33, which is read as a Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Clovis Oncology (NASDAQ:CLVS) stock is expected to deviate a maximum of $6.16 from the average target price of $19.5 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $30 and the most muted being $14.

Company shares have received an average consensus rating of Hold for the current week Also, In the latest statement by the brokerage house, JP Morgan downgrades its outlook on Clovis Oncology (NASDAQ:CLVS). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Overweight. The brokerage firm lowers the price target from $42 per share to $15 per share. The rating by the firm was issued on April 13, 2016.

Clovis Oncology (NASDAQ:CLVS): stock turned positive on Tuesday. Though the stock opened at $11.89, the bulls momentum made the stock top out at $12.49 level for the day. The stock recorded a low of $11.7301 and closed the trading day at $12.355, in the green by 6.78%. The total traded volume for the day was 1,157,827. The stock had closed at $11.57 in the previous days trading.

In an insider trading activity,The officer (Executive VP and CFO) of Clovis Oncology, Inc., Mast Erle T sold 3,000 shares at $104.18 on November 2, 2015. The Insider selling transaction had a total value worth of $312,540. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Clovis Oncology, Inc. (Clovis) is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and additional international markets. The Company is developing three product candidates: Rociletinib, Rucaparib and Lucitanib. Rociletinib, an oral epidermal growth factor receptor (EGFR), is a mutant-selective covalent inhibitor that is in advanced clinical development for the treatment of non-small cell lung cancer. Rucaparib, an oral inhibitor of poly (ADP-ribose) polymerase (PARP), is in advanced clinical development for the treatment of ovarian cancer. Lucitanib is an oral, potent inhibitor of the tyrosine kinase activity of fibroblast growth factor receptors 1-3 (FGFR1-3), vascular endothelial growth factor receptors 1-3 (VEGFR1-3) and platelet-derived growth factor receptors alpha and beta (PDGFR a/B) that is in Phase II development for the treatment of breast and lung cancers.

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