Clovis Oncology, Inc. (NASDAQ:CLVS) is among the top losers of the stock market today, sinking -3.47% or (-0.48 points) to $13.35 from its previous close of $13.83. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 690900 contracts so far this session. CLVS shares had a relatively better volume day versus average trading capacity of 1.7 million shares, but with a 51.4 million float and a -4.16% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CLVS stock indicates that the average analyst price target is $29.5 per share. This means the stock has a potential increase of 120.97% from where the CLVS share price has been trading recently which is between $13.7 and $14.28. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $15.
The shorts are climbing into Clovis Oncology, Inc. (CLVS) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in CLVS shares. While short interest still represents only 16.76% of CLVS’s float, the number of shares shorted have risen by 1809765. The number of shares shorted advanced to 10423728 shares, up from 8613963 shares during the preceding fortnight. With average daily trading volumes at 2828792 shares, days to cover decreased to about 8.442529 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Do Options Traders Know Something About Clovis (CLVS) Stock We Don’t?” and dated July 02, 2019.
During the recent trading session for Clovis Oncology, Inc. (NASDAQ:CLVS), the company witnessed their stock drop by $-1.26 over a week and surge $0.33 from the price 20 days ago. When compared to their established 52-week high of $49.81, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/12/18. The recent low of $11.5 stood for a -73.25% since 10/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.85 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Clovis Oncology, Inc., the two-week RSI stands at 40.31. This figure suggests that CLVS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CLVS readings is similarly very revealing as it has a stochastic reading of 39.53% at this stage. This figure means that CLVS share price today is being neutral.
Technical chart claims that Clovis Oncology, Inc. (CLVS) would settle between $14.17/share to $14.52/share level. However, if the stock price goes below the $13.59 mark, then the market for Clovis Oncology, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $13.36 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.57. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Goldman lowered their recommendation on shares of CLVS from Neutral to Sell in their opinion released on May 29. H.C. Wainwright analysts again handed out a Buy recommendation to Clovis Oncology, Inc. (NASDAQ:CLVS) stock but they lifted target price for the shares in a flash note issued to investors on April 15. The target price has been raised from $39 to $37. Analysts at H.C. Wainwright, made their first call for the equity with a Buy recommendation, according to a research note that dated back to February 13.
CLVS equity has an average rating of 2.08, with the figure leaning towards a bullish end. 12 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 9 analysts rated Clovis Oncology, Inc. (NASDAQ:CLVS) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CLVS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 189.71 while for the average stock in the same group, the multiple is 49.46.
Clovis Oncology, Inc. (CLVS)’s current-quarter revenues are projected to climb by nearly 46.81% to hit $34.88 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 55.46% from $95.39 million to a noteworthy $148290. At the other end of the current quarter income statement, Clovis Oncology, Inc. is expected to see its adjusted earnings surge by roughly 12.37% to hit $-1.7 per share. For the fiscal year, CLVS’s earnings are projected to climb by roughly 4.38% to hit $-6.76 per share.