Wall Street analysts expect that Clovis Oncology (NASDAQ:CLVS) will report sales of $23.96 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Clovis Oncology’s earnings. The highest sales estimate is $25.51 million and the lowest is $22.80 million. Clovis Oncology posted sales of $17.04 million during the same quarter last year, which would indicate a positive year over year growth rate of 40.6%. The company is scheduled to announce its next earnings results on Monday, February 25th.
According to Zacks, analysts expect that Clovis Oncology will report full year sales of $89.31 million for the current year, with estimates ranging from $87.80 million to $90.54 million. For the next year, analysts forecast that the firm will post sales of $149.32 million, with estimates ranging from $119.00 million to $172.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.60) by ($0.11). The business had revenue of $22.76 million for the quarter, compared to analysts’ expectations of $30.11 million. Clovis Oncology had a negative return on equity of 108.92% and a negative net margin of 390.65%. The firm’s quarterly revenue was up 35.4% on a year-over-year basis. During the same period last year, the firm earned ($1.24) earnings per share.
CLVS has been the subject of a number of recent analyst reports. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of Clovis Oncology in a report on Friday, October 19th. Cann reaffirmed a “hold” rating on shares of Clovis Oncology in a report on Friday, October 19th. JPMorgan Chase & Co. downgraded Clovis Oncology from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $71.00 to $16.00 in a report on Wednesday, October 31st. Leerink Swann raised Clovis Oncology from a “market perform” rating to an “outperform” rating in a report on Tuesday. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Clovis Oncology in a report on Tuesday, October 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Clovis Oncology currently has a consensus rating of “Hold” and an average target price of $56.32.
Several institutional investors and hedge funds have recently bought and sold shares of CLVS. Advisors Asset Management Inc. increased its position in shares of Clovis Oncology by 1,017.5% during the second quarter. Advisors Asset Management Inc. now owns 56,668 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 51,597 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Clovis Oncology during the third quarter worth about $226,000. Comerica Bank acquired a new stake in shares of Clovis Oncology during the third quarter worth about $241,000. Zeke Capital Advisors LLC acquired a new stake in shares of Clovis Oncology during the third quarter worth about $268,000. Finally, Greenwood Capital Associates LLC increased its position in shares of Clovis Oncology by 25.3% during the second quarter. Greenwood Capital Associates LLC now owns 6,981 shares of the biopharmaceutical company’s stock worth $317,000 after purchasing an additional 1,408 shares in the last quarter.
Shares of NASDAQ CLVS opened at $19.87 on Friday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -3.88 and a beta of 2.12. The company has a quick ratio of 8.46, a current ratio of 9.03 and a debt-to-equity ratio of 2.46. Clovis Oncology has a 1 year low of $11.50 and a 1 year high of $69.02.
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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