Clovis Oncology (CLVS) Expected to Post Quarterly Sales of $35.50 Million

Brokerages predict that Clovis Oncology (NASDAQ:CLVS) will post sales of $35.50 million for the current quarter, according to Zacks. Five analysts have made estimates for Clovis Oncology’s earnings, with estimates ranging from $33.12 million to $36.97 million. Clovis Oncology posted sales of $23.76 million during the same quarter last year, which would indicate a positive year over year growth rate of 49.4%. The company is expected to report its next earnings report on Wednesday, August 7th.

On average, analysts expect that Clovis Oncology will report full year sales of $149.31 million for the current financial year, with estimates ranging from $145.00 million to $154.03 million. For the next financial year, analysts expect that the business will report sales of $233.63 million, with estimates ranging from $199.70 million to $252.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Clovis Oncology.

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

CLVS has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. HC Wainwright dropped their price target on shares of Clovis Oncology from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, April 15th. JPMorgan Chase & Co. restated a “hold” rating and set a $27.00 target price on shares of Clovis Oncology in a research report on Wednesday, February 27th. BidaskClub upgraded shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Finally, SunTrust Banks upped their target price on shares of Clovis Oncology to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.00.

NASDAQ CLVS traded down $0.71 during trading hours on Friday, hitting $16.36. 1,047,513 shares of the company’s stock traded hands, compared to its average volume of 1,757,457. The company has a current ratio of 4.39, a quick ratio of 4.15 and a debt-to-equity ratio of 8.04. The firm has a market capitalization of $879.97 million, a price-to-earnings ratio of -2.31 and a beta of 1.89. Clovis Oncology has a 52 week low of $11.50 and a 52 week high of $51.76.

In related news, Director James C. Blair sold 17,056 shares of the company’s stock in a transaction on 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 owns 13,439 shares of the company’s stock, valued at $373,469.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lindsey Rolfe sold 1,731 shares of the company’s stock in a transaction on 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 directly owns 16,497 shares in the company, valued at approximately $483,197.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,782 shares of company stock worth $576,755. 8.30% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Pearl River Capital LLC purchased a new stake in Clovis Oncology during the first quarter valued at $40,000. NumerixS Investment Technologies Inc purchased a new stake in Clovis Oncology during the first quarter valued at $62,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Clovis Oncology by 93.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,146 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,519 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Clovis Oncology by 54.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 7,034 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 2,489 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Clovis Oncology during the first quarter valued at $192,000.

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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