Stock Update (NASDAQ:CLVS): Trading of Clovis Oncology Inc Common Stock Halted
Clovis Oncology Inc (NASDAQ:CLVS) announced that NASDAQ has halted trading of the Company’s common stock. The U.S. Food and Drug Administration’s (FDA) Oncologic Drugs Advisory Committee (ODAC) is meeting this morning to discuss the company’s New Drug Application (NDA) for rociletinib for the treatment of patients with mutant epidermal growth factor receptor (EGFR) non-small cell lung cancer (NSCLC) who have been previously treated with an EGFR-targeted therapy and have the EGFR T790M mutation. (Original Source)
Shares of Clovis Oncology closed yesterday at $15.06, down $0.71 or -4.50%. CLVS has a 1-year high of $116.75 and a 1-year low of $14.38. The stock’s 50-day moving average is $19.09 and its 200-day moving average is $43.43.
On the ratings front, Clovis has been the subject of a number of recent research reports. In a report issued on April 8, Piper Jaffray analyst Joshua Schimmer reiterated a Hold rating on CLVS, with a price target of $18, which implies an upside of 19.5% from current levels. Separately, on February 29, Mizuho’s Eric Criscuolo reiterated a Hold rating on the stock and has a price target of $21.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joshua Schimmer and Eric Criscuolo have a total average return of -16.8% and -1.8% respectively. Schimmer has a success rate of 26.0% and is ranked #3784 out of 3787 analysts, while Criscuolo has a success rate of 44.4% and is ranked #2626.
The street is mostly Bullish on CLVS stock. Out of 5 analysts who cover the stock, 3 suggest a Buy rating and 2 recommend to Hold the stock.
Clovis Oncology, Inc. is a biopharmaceutical company which focuses on acquiring, developing and commercializing cancer treatments in the United States, Europe and other international markets. The company has three product candidates in its clinical development pipeline: Rociletinib, Rucaparib and Lucitani. Clovis Oncology 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.