Analysts expect Clovis Oncology (NASDAQ:CLVS) to announce $30.57 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Clovis Oncology’s earnings. The highest sales estimate is $30.60 million and the lowest is $30.50 million. Clovis Oncology posted sales of $17.04 million during the same quarter last year, which suggests a positive year over year growth rate of 79.4%. The company is scheduled to issue its next earnings results before the market opens on Tuesday, February 26th.
According to Zacks, analysts expect that Clovis Oncology will report full-year sales of $95.58 million for the current year, with estimates ranging from $95.50 million to $95.64 million. For the next year, analysts expect that the business will post sales of $157.84 million, with estimates ranging from $125.00 million to $188.06 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Clovis Oncology.
A number of brokerages have recently issued reports on CLVS. Zacks Investment Research downgraded Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. HC Wainwright began coverage on Clovis Oncology in a research note on Wednesday, February 13th. They issued a “buy” rating and a $40.00 price objective on the stock. Piper Jaffray Companies dropped their price objective on Clovis Oncology to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 31st. BidaskClub raised Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Finally, Leerink Swann raised Clovis Oncology from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $54.96.
Shares of NASDAQ:CLVS traded down $0.13 during midday trading on Friday, reaching $24.24. The company’s stock had a trading volume of 1,365,150 shares, compared to its average volume of 2,025,846. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -4.73 and a beta of 2.14. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.03 and a quick ratio of 8.46. Clovis Oncology has a fifty-two week low of $11.50 and a fifty-two week high of $65.24.
In related news, insider Lindsey Rolfe sold 1,728 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The stock was sold at an average price of $17.72, for a total transaction of $30,620.16. Following the transaction, the insider now directly owns 17,600 shares of the company’s stock, valued at approximately $311,872. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Teachers Advisors LLC raised its stake in Clovis Oncology by 0.9% during the 3rd quarter. Teachers Advisors LLC now owns 144,561 shares of the biopharmaceutical company’s stock worth $4,246,000 after buying an additional 1,278 shares during the period. Great West Life Assurance Co. Can raised its stake in Clovis Oncology by 54.8% during the 4th 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 during the period. Swiss National Bank raised its stake in Clovis Oncology by 4.1% during the 3rd quarter. Swiss National Bank now owns 87,050 shares of the biopharmaceutical company’s stock worth $2,557,000 after buying an additional 3,400 shares during the period. Legal & General Group Plc raised its stake in Clovis Oncology by 29.9% during the 4th quarter. Legal & General Group Plc now owns 20,457 shares of the biopharmaceutical company’s stock worth $368,000 after buying an additional 4,711 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in Clovis Oncology during the 3rd quarter worth approximately $226,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.
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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