Wall Street brokerages expect Clovis Oncology (NASDAQ:CLVS) to announce ($1.80) earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Clovis Oncology’s earnings, with the highest EPS estimate coming in at ($1.68) and the lowest estimate coming in at ($1.89). Clovis Oncology reported earnings of ($1.30) per share during the same quarter last year, which would indicate a negative year over year growth rate of 38.5%. The firm is expected to announce its next quarterly earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Clovis Oncology will report full-year earnings of ($6.99) per share for the current year, with EPS estimates ranging from ($7.87) to ($6.37). For the next year, analysts expect that the firm will report earnings of ($5.68) per share, with EPS estimates ranging from ($6.24) to ($4.91). Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($1.88) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.20). The company had revenue of $30.40 million during the quarter, compared to the consensus estimate of $30.46 million. Clovis Oncology had a negative net margin of 385.80% and a negative return on equity of 147.39%. The firm’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.04) earnings per share.
CLVS has been the subject of a number of recent analyst reports. HC Wainwright initiated coverage on Clovis Oncology in a research report on Wednesday, February 13th. They issued a “buy” rating and a $40.00 price objective for the company. SunTrust Banks boosted their price objective on Clovis Oncology to $35.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Zacks Investment Research raised Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. BidaskClub raised Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $27.00 price objective on shares of Clovis Oncology in a research note on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $43.44.
CLVS stock traded down $0.63 during mid-day trading on Monday, reaching $20.25. The company had a trading volume of 22,877 shares, compared to its average volume of 1,335,145. The company has a quick ratio of 4.34, a current ratio of 4.55 and a debt-to-equity ratio of 3.93. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -2.86 and a beta of 2.07. Clovis Oncology has a 52 week low of $11.50 and a 52 week high of $54.20.
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 stock was sold at an average price of $26.13, for a total transaction of $45,178.77. Following the transaction, the insider now directly owns 20,953 shares of the company’s stock, valued at approximately $547,501.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $473,986.24. Following the transaction, the director now directly owns 13,439 shares in the company, valued at $373,469.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,782 shares of company stock worth $576,755. 10.20% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of CLVS. Great West Life Assurance Co. Can raised its position in shares of Clovis Oncology by 54.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 7,034 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 2,489 shares in the last quarter. Two Sigma Securities LLC purchased a new position in shares of Clovis Oncology in the fourth quarter worth about $212,000. Virtu Financial LLC purchased a new position in shares of Clovis Oncology in the first quarter worth about $215,000. Pacer Advisors Inc. purchased a new position in shares of Clovis Oncology in the third quarter worth about $226,000. Finally, Gabelli Funds LLC lifted its stake in shares of Clovis Oncology by 115.9% in the fourth quarter. Gabelli Funds LLC now owns 14,900 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 8,000 shares in the last quarter.
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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