Analysts Anticipate Clovis Oncology (CLVS) Will Announce Quarterly Sales of $31.68 Million

Equities research analysts expect Clovis Oncology (NASDAQ:CLVS) to announce $31.68 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Clovis Oncology’s earnings. The highest sales estimate is $33.57 million and the lowest is $28.00 million. Clovis Oncology reported sales of $18.52 million in the same quarter last year, which indicates a positive year over year growth rate of 71.1%. The business is expected to report its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Clovis Oncology will report full-year sales of $144.88 million for the current financial year, with estimates ranging from $125.00 million to $159.85 million. For the next year, analysts anticipate that the company will report sales of $229.42 million, with estimates ranging from $182.70 million to $252.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($1.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.16). Clovis Oncology had a negative net margin of 385.80% and a negative return on equity of 147.39%. The firm had revenue of $30.40 million for the quarter, compared to analysts’ expectations of $30.46 million. During the same quarter last year, the firm posted ($1.04) EPS. The firm’s quarterly revenue was up 78.4% compared to the same quarter last year.

A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. SunTrust Banks boosted their price target on shares of Clovis Oncology to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $27.00 price target on shares of Clovis Oncology in a research note on Wednesday, February 27th. Finally, Piper Jaffray Companies boosted their price target on shares of Clovis Oncology to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $45.85.

Shares of CLVS traded down $0.43 during trading hours on Monday, reaching $24.85. 9,302 shares of the stock traded hands, compared to its average volume of 1,555,650. The company has a debt-to-equity ratio of 3.93, a quick ratio of 4.34 and a current ratio of 4.55. Clovis Oncology has a 52-week low of $11.50 and a 52-week high of $65.24. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -3.53 and a beta of 2.07.

In other news, Director James C. Blair sold 17,056 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $27.79, for a total transaction of $473,986.24. Following the sale, the director now directly owns 13,439 shares in the company, valued at approximately $373,469.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lindsey Rolfe sold 1,731 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.29, for a total transaction of $50,700.99. Following the sale, the insider now owns 16,497 shares in the company, valued at $483,197.13. The disclosure for this sale can be found here. Insiders have sold a total of 20,782 shares of company stock worth $576,755 over the last 90 days. Corporate insiders own 10.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Clovis Oncology by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 572,004 shares of the biopharmaceutical company’s stock valued at $10,273,000 after purchasing an additional 39,369 shares during the last quarter. Norges Bank bought a new position in Clovis Oncology during the 4th quarter valued at about $8,351,000. Dimensional Fund Advisors LP bought a new position in Clovis Oncology during the 4th quarter valued at about $5,641,000. Sofinnova Investments Inc. bought a new position in Clovis Oncology during the 4th quarter valued at about $5,168,000. Finally, Millennium Management LLC grew its holdings in Clovis Oncology by 258.4% during the 4th quarter. Millennium Management LLC now owns 29,109 shares of the biopharmaceutical company’s stock valued at $523,000 after purchasing an additional 20,988 shares during 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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