H.C. Wainwright Thinks Clovis Oncology’s Stock is Going to Recover

By Ryan Adsit

In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Clovis Oncology (CLVSResearch Report), with a price target of $36. The company’s shares closed yesterday at $16.36, close to its 52-week low of $11.50.

According to TipRanks.com, White is a 5-star analyst with an average return of 14.4% and a 47.0% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Aeglea Biotherapeutics Inc, and Spectrum Pharmaceuticals.

Currently, the analyst consensus on Clovis Oncology is a Moderate Buy with an average price target of $28.33, which is a 73.2% upside from current levels. In a report issued on May 8, RBC Capital also maintained a Buy rating on the stock with a $29 price target.

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The company has a one-year high of $51.76 and a one-year low of $11.50. Currently, Clovis Oncology has an average volume of 1.61M.

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.