Analysts expect that Clovis Oncology (NASDAQ:CLVS) will post $23.38 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Clovis Oncology’s earnings, with the highest sales estimate coming in at $25.20 million and the lowest estimate coming in at $21.73 million. Clovis Oncology reported sales of $14.62 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 59.9%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, August 1st.
On average, analysts expect that Clovis Oncology will report full-year sales of $115.94 million for the current financial year, with estimates ranging from $108.66 million to $126.10 million. For the next fiscal year, analysts expect that the company will post sales of $251.52 million per share, with estimates ranging from $202.98 million to $292.10 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.36) by ($0.18). Clovis Oncology had a negative net margin of 545.80% and a negative return on equity of 79.02%. The firm had revenue of $18.50 million for the quarter, compared to analyst estimates of $18.34 million. During the same quarter in the previous year, the company earned ($1.33) EPS. The company’s quarterly revenue was up 164.3% compared to the same quarter last year.
Several analysts have issued reports on the company. ValuEngine upgraded Clovis Oncology from a “strong sell” rating to a “sell” rating in a research note on Friday, May 11th. BidaskClub cut Clovis Oncology from a “sell” rating to a “strong sell” rating in a research note on Friday, June 8th. Zacks Investment Research cut Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Gabelli restated a “buy” rating on shares of Clovis Oncology in a research note on Monday, July 16th. Finally, Royal Bank of Canada restated a “buy” rating and set a $73.00 price objective on shares of Clovis Oncology in a research note on Tuesday, June 12th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $79.65.
Clovis Oncology traded down $1.51, hitting $43.70, on Friday, according to Marketbeat. 25,841 shares of the stock traded hands, compared to its average volume of 676,270. Clovis Oncology has a twelve month low of $41.31 and a twelve month high of $99.45. The stock has a market capitalization of $2.38 billion, a P/E ratio of -8.44 and a beta of 1.37. The company has a quick ratio of 5.74, a current ratio of 6.55 and a debt-to-equity ratio of 0.92.
Institutional investors have recently made changes to their positions in the company. KBC Group NV raised its position in shares of Clovis Oncology by 54.6% during the 1st quarter. KBC Group NV now owns 88,163 shares of the biopharmaceutical company’s stock worth $4,655,000 after purchasing an additional 31,151 shares during the period. Russell Investments Group Ltd. raised its position in shares of Clovis Oncology by 48.6% during the 1st quarter. Russell Investments Group Ltd. now owns 31,033 shares of the biopharmaceutical company’s stock worth $1,639,000 after purchasing an additional 10,154 shares during the period. Millennium Management LLC acquired a new stake in shares of Clovis Oncology during the 4th quarter worth approximately $17,652,000. Two Sigma Advisers LP acquired a new stake in shares of Clovis Oncology during the 4th quarter worth approximately $3,291,000. Finally, Fred Alger Management Inc. raised its position in shares of Clovis Oncology by 42.1% during the 2nd quarter. Fred Alger Management Inc. now owns 172,356 shares of the biopharmaceutical company’s stock worth $7,837,000 after purchasing an additional 51,054 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.
About Clovis Oncology
Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.
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