4 Reasons to Go Long On Clovis Oncology Inc. [CLVS]

Clovis Oncology Inc. [CLVS] shares are down more than -70.36% this year and recently decreased -0.01% or -$0.05 to settle at $4.82. Analysts expect CLVS to grow earnings at a 78.90% annual rate over the next 5 years. CLVS has a short ratio of 8.52. This implies that the market is currently less bearish on the outlook for CLVS.

On 24, November 2020, Clovis Oncology Announces Exercise by Existing Holder of Option to Purchase an Additional $7.5 Million Aggregate Principal Amount of the Company’s 4.50% Convertible Senior Notes Due 2024. According to news published on Yahoo Finance, Clovis Oncology, Inc. (NASDAQ: CLVS) announced today that pursuant to the terms of that previously announced Exchange and Purchase Agreement, dated as of November 4, 2020, by and between Clovis Oncology and an existing holder of its securities named therein (the “Holder”) relating to the offering of the Company’s new series of 4.50% Convertible Senior Notes due 2024 (the “New 2024 Notes”), such Holder has elected to exercise its option to purchase an additional $7.5 million aggregate principal amount of the New 2024 Notes on the same terms. The settlement of the option is expected to occur on November 27, 2020, subject to customary closing conditions. Following the closing, there will be a total of $57.5 million aggregate principal amount of the New 2024 Notes outstanding.

Analyst Birdseye View:

The most recent analyst activity for Clovis Oncology Inc. [NASDAQ:CLVS] stock was on April 27, 2020, when it was Downgrade with an Underperform rating from SVB Leerink, which also raised its 12-month price target on the stock to $5. Before that, on May 18, 2020, H.C. Wainwright Recapitulated a Buy rating and elevated its amount target to $33. On April 09, 2020, BofA/Merrill Downgrade an Underperform rating and boosted its price target on this stock to $6. On January 08, 2020, H.C. Wainwright Reiterated a Buy rating and decreased its price target from $36 to $27. On November 19, 2019, Evercore ISI Downgrade an In-line rating and increased its price target to $8. On September 24, 2019, SVB Leerink Downgrade a Mkt perform rating and boosted its amount target on this stock to $10. On August 13, 2019, BofA/Merrill Downgrade a Neutral rating.

In the past 52 weeks of trading, this stock has oscillated between a low of $3.62 and a peak of $17.37. Right now, according to Wall Street analyst the average 12-month amount target is $7.00. At the most recent market close, shares of Clovis Oncology Inc. [NASDAQ:CLVS] were valued at $4.82. According to the average price forecast, investors can expect a potential return of -33.27%.

FUNDAMENTAL ANALYSIS

Clovis Oncology Inc. [NASDAQ:CLVS] most recently reported quarterly sales of 38.77 billion, which represented growth of 3.20%. This publicly-traded organization’s revenue is $295,467 per employee, while its income is -$827,322 per employee. This company’s Gross Margin is currently 75.30%, its Pretax Margin is -278.75, and its Net Margin is -280.01.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 132.25 and the whole liability to whole assets at 106.72. It shows enduring liability to the whole principal at 131.25 and enduring liability to assets at 1.06 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 4.77 points at 1st support level, the second support level is making up to 4.66. But as of 1st resistance point, this stock is sitting at 5.02 and at 5.16 for 2nd resistance point.

Clovis Oncology Inc. [CLVS] reported its earnings at -$0.89 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.99/share signifying the difference of 0.1 and 10.10% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$1.15 calling estimates for -$1.04/share with the difference of -0.11 depicting the surprise of -10.60%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Clovis Oncology Inc. [NASDAQ:CLVS] is 2.30. Likewise, the Quick ratio is also the same, showing Cash ratio at 2.23. Now if looking for a valuation of this stock’s amount to sales ratio it’s 3.93.

Insider Stories

The most recent insider trade was by IVERS-READ GILLIAN C, See Remarks, and it was the sale of 1689.0 shares on Nov 03. Rolfe Lindsey, the See Remarks, completed a sale of 1920.0 shares on Nov 03. On Nov 03, MUEHL DANIEL W, See Remarks, completed a sale of 2534.0 shares.