Brokerages expect Clovis Oncology (NASDAQ:CLVS) to announce $35.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Clovis Oncology’s earnings. The lowest sales estimate is $33.12 million and the highest is $36.97 million. Clovis Oncology reported sales of $23.76 million in the same quarter last year, which indicates a positive year-over-year growth rate of 49.4%. The business is scheduled to issue its next earnings results on Wednesday, August 7th.
On average, analysts expect that Clovis Oncology will report full year sales of $149.31 million for the current fiscal year, with estimates ranging from $145.00 million to $154.03 million. For the next fiscal year, analysts expect that the company will report sales of $233.63 million, with estimates ranging from $199.70 million to $252.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($1.63) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.80) by $0.17. Clovis Oncology had a negative net margin of 342.54% and a negative return on equity of 196.39%. The business had revenue of $33.12 million for the quarter, compared to the consensus estimate of $32.10 million. During the same period in the prior year, the firm earned ($1.38) earnings per share. The company’s revenue was up 78.8% compared to the same quarter last year.
CLVS has been the topic of several analyst reports. HC Wainwright initiated coverage on Clovis Oncology in a research report on Wednesday, February 13th. They set a “buy” rating and a $40.00 price target on the stock. Zacks Investment Research cut Clovis Oncology from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th. BidaskClub cut Clovis Oncology from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. Piper Jaffray Companies upped their price target on Clovis Oncology to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, February 27th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $27.00 price target on shares of Clovis Oncology in a research report on Wednesday, February 27th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.00.
In related news, insider Lindsey Rolfe sold 1,729 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $26.13, for a total value of $45,178.77. Following the transaction, the insider now directly owns 20,953 shares in the company, valued at $547,501.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James C. Blair sold 17,056 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $27.79, for a total transaction of $473,986.24. Following the completion of the transaction, the director now owns 13,439 shares in the company, valued at $373,469.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,509 shares of company stock worth $530,024. 8.30% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Virtus ETF Advisers LLC increased its position in shares of Clovis Oncology by 80.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 30,876 shares of the biopharmaceutical company’s stock worth $555,000 after purchasing an additional 13,775 shares during the last quarter. Sofinnova Investments Inc. bought a new position in Clovis Oncology during the fourth quarter valued at approximately $5,168,000. Dimensional Fund Advisors LP bought a new position in Clovis Oncology during the fourth quarter valued at approximately $5,641,000. Candriam Luxembourg S.C.A. grew its position in Clovis Oncology by 34.4% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 293,100 shares of the biopharmaceutical company’s stock valued at $5,264,000 after acquiring an additional 75,000 shares during the last quarter. Finally, Norges Bank bought a new position in Clovis Oncology during the fourth quarter valued at approximately $8,351,000. Institutional investors own 93.28% of the company’s stock.
Shares of CLVS traded down $0.31 during midday trading on Friday, hitting $13.42. 11,419 shares of the company traded hands, compared to its average volume of 1,694,862. Clovis Oncology has a one year low of $11.50 and a one year high of $50.00. The stock has a market cap of $727.76 million, a PE ratio of -1.89 and a beta of 1.99. The company has a quick ratio of 4.15, a current ratio of 4.39 and a debt-to-equity ratio of 8.04.
Clovis Oncology Company Profile
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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