H.C. Wainwright analyst Edward White maintained a Buy rating on Clovis Oncology (CLVS) today and set a price target of $39. The company’s shares closed yesterday at $26.05.
White said:
“We are reducing our price target to $39 from $40 due to increased expense and lower sales estimates. We derive our $39 price target from a sum-of-the-parts analysis based on probability-adjusted revenue forecasts for Rubraca in ovarian cancer combination, prostate, and bladder cancer indications, and the net present value for the current commercial business. We use the net present value (NPV) of our revenue forecasts through 2028, apply a 40% probability of success (POS) for Rubraca in ovarian combination, 45% POS for Rubraca in prostate cancer, and 15% POS for Rubraca in bladder cancer.”
According to TipRanks.com, White is a 5-star analyst with an average return of 13.0% and a 45.9% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Clovis Oncology has an analyst consensus of Strong Buy, with a price target consensus of $32.67, representing a 25.4% upside. In a report released today, SunTrust Robinson also maintained a Buy rating on the stock with a $35 price target.
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Based on Clovis Oncology’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $99.26 million. In comparison, last year the company had a GAAP net loss of $51.88 million.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. Last month, Thorlef Spickschen, a Director at CLVS bought 32,758 shares for a total of $28,740.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
