Clovis Oncology (CLVS) Expected to Post Earnings of -$1.69 Per Share

Wall Street brokerages forecast that Clovis Oncology (NASDAQ:CLVS) will announce ($1.69) earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Clovis Oncology’s earnings. The highest EPS estimate is ($1.56) and the lowest is ($1.89). Clovis Oncology posted earnings per share of ($1.94) during the same quarter last year, which suggests a positive year over year growth rate of 12.9%. The company is expected to issue its next quarterly earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Clovis Oncology will report full-year earnings of ($6.75) per share for the current financial year, with EPS estimates ranging from ($7.40) to ($6.04). For the next year, analysts anticipate that the business will post earnings of ($5.33) per share, with EPS estimates ranging from ($6.07) to ($3.86). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($1.63) EPS for the quarter, topping analysts’ consensus estimates of ($1.80) by $0.17. The business had revenue of $33.12 million during the quarter, compared to analysts’ expectations of $32.10 million. Clovis Oncology had a negative net margin of 342.54% and a negative return on equity of 196.39%. The company’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.38) earnings per share.

CLVS has been the subject of a number of research reports. HC Wainwright initiated coverage on shares of Clovis Oncology in a research note on Wednesday, February 13th. They set a “buy” rating and a $40.00 target price for the company. Zacks Investment Research cut shares of Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. JPMorgan Chase & Co. reissued a “hold” rating and set a $27.00 target price on shares of Clovis Oncology in a research note on Wednesday, February 27th. BidaskClub raised shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Piper Jaffray Companies boosted their target price on shares of Clovis Oncology to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Clovis Oncology currently has a consensus rating of “Hold” and a consensus target price of $34.63.

Shares of CLVS stock traded up $0.02 on Wednesday, reaching $18.76. 37,778 shares of the company were exchanged, compared to its average volume of 1,453,727. The stock has a market capitalization of $964.69 million, a P/E ratio of -2.65 and a beta of 1.89. 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 has a 1 year low of $11.50 and a 1 year high of $53.90.

In other news, insider Lindsey Rolfe sold 1,729 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were 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 $547,501.89. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James C. Blair sold 17,056 shares of the business’s stock in a transaction 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 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. In the last ninety days, insiders have sold 20,782 shares of company stock valued at $576,755. 8.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Clovis Oncology by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,445,064 shares of the biopharmaceutical company’s stock worth $130,551,000 after acquiring an additional 104,655 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Clovis Oncology during the 3rd quarter worth approximately $423,000. Teachers Advisors LLC increased its holdings in shares of 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 acquiring an additional 1,278 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in shares of Clovis Oncology by 70.2% during the 4th quarter. Fox Run Management L.L.C. now owns 44,774 shares of the biopharmaceutical company’s stock worth $804,000 after acquiring an additional 18,460 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Clovis Oncology during the 4th quarter worth approximately $299,000.

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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