Analysts expect Clovis Oncology Inc (NASDAQ:CLVS) to report sales of $17.50 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Clovis Oncology’s earnings, with estimates ranging from $17.00 million to $18.30 million. Clovis Oncology reported sales of $7.05 million in the same quarter last year, which indicates a positive year over year growth rate of 148.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Clovis Oncology will report full year sales of $17.50 million for the current fiscal year, with estimates ranging from $110.00 million to $173.30 million. For the next financial year, analysts anticipate that the business will post sales of $320.77 million per share, with estimates ranging from $237.10 million to $403.53 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.25. Clovis Oncology had a negative net margin of 624.02% and a negative return on equity of 81.34%. The company had revenue of $17.04 million during the quarter, compared to analyst estimates of $19.42 million. During the same period last year, the firm posted ($1.83) EPS. Clovis Oncology’s revenue for the quarter was up 21746.2% compared to the same quarter last year.
A number of equities analysts have issued reports on the stock. BidaskClub lowered shares of Clovis Oncology from a “sell” rating to a “strong sell” rating in a research report on Friday, February 9th. Leerink Swann reissued an “outperform” rating and set a $90.00 price target (down from $107.00) on shares of Clovis Oncology in a research report on Wednesday, November 15th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Clovis Oncology in a research report on Thursday, January 11th. SunTrust Banks cut their target price on shares of Clovis Oncology from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, Cann reaffirmed a “hold” rating on shares of Clovis Oncology in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $87.84.
In related news, Director Thorlef Spickschen sold 4,500 shares of Clovis Oncology stock in a transaction on Monday, January 8th. The shares were sold at an average price of $64.97, for a total value of $292,365.00. Following the sale, the director now owns 21,118 shares of the company’s stock, valued at approximately $1,372,036.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $59.16, for a total transaction of $177,480.00. Following the completion of the sale, the insider now directly owns 183,571 shares in the company, valued at approximately $10,860,060.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,500 shares of company stock valued at $1,371,210. Insiders own 12.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB acquired a new stake in Clovis Oncology in the 4th quarter valued at $328,000. Delek Group Ltd. acquired a new stake in Clovis Oncology in the 4th quarter valued at $2,852,000. MetLife Investment Advisors LLC acquired a new stake in Clovis Oncology in the 4th quarter valued at $1,374,000. Endurant Capital Management LP grew its stake in Clovis Oncology by 19.2% in the 4th quarter. Endurant Capital Management LP now owns 67,650 shares of the biopharmaceutical company’s stock valued at $4,600,000 after acquiring an additional 10,900 shares during the period. Finally, Palo Alto Investors LLC grew its stake in Clovis Oncology by 2.2% in the 4th quarter. Palo Alto Investors LLC now owns 3,402,781 shares of the biopharmaceutical company’s stock valued at $231,389,000 after acquiring an additional 73,200 shares during the period.
Clovis Oncology (NASDAQ:CLVS) opened at $62.12 on Friday. Clovis Oncology has a 1 year low of $45.42 and a 1 year high of $99.45. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.35 and a current ratio of 7.69. The stock has a market cap of $3,141.59, a P/E ratio of -8.29 and a beta of 1.10.
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About Clovis Oncology
Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.
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