Clovis Oncology (CLVS) Receives a Buy from Credit Suisse

By Austin Angelo

In a report issued on May 13, Lorenzo Biasio from Credit Suisse maintained a Buy rating on Clovis Oncology (CLVSResearch Report), with a price target of $29. The company’s shares closed yesterday at $18.77.

According to, Biasio is a 3-star analyst with an average return of 3.0% and a 57.4% success rate. Biasio covers the Healthcare sector, focusing on stocks such as Coherus Biosciences, Thermo Fisher, and Mylan Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Clovis Oncology with a $28.20 average price target, representing a 50.2% upside. In a report issued on May 8, H.C. Wainwright also maintained a Buy rating on the stock with a $36 price target.

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Based on Clovis Oncology’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $86.42 million. In comparison, last year the company had a GAAP net loss of $77.69 million.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.

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Clovis Oncology, Inc. is a commercial stage biotechnology company, which engages in the acquisition, development, and commercialization of cancer treatments in the United States, Europe, and other markets. Its product development programs target specific subsets of cancer, and simultaneously develop, with partners, diagnostic tools intended to direct a compound in development to the patients most likely to benefit from its use. The company was founded by Andrew R. Allen, Gillian C. Ivers-Read, Patrick J. Mahaffy, and Erle T. Mast on April 20, 2009 and is headquartered in Boulder, CO.