J.P. Morgan Keeps a Hold Rating on Clovis Oncology (CLVS)

By Jason Carr

In a report released yesterday, Cory Kasimov from J.P. Morgan maintained a Hold rating on Clovis Oncology (CLVSResearch Report), with a price target of $27. The company’s shares closed on Friday at $14.78, close to its 52-week low of $11.50.

According to TipRanks.com, Kasimov is a 2-star analyst with an average return of 0.1% and a 39.7% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and ACADIA Pharmaceuticals Inc.

Clovis Oncology has an analyst consensus of Moderate Buy, with a price target consensus of $26.43.

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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 36 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.