Zacks: Brokerages Expect Clovis Oncology (CLVS) Will Post Earnings of -$1.69 Per Share

Wall Street brokerages expect Clovis Oncology (NASDAQ:CLVS) to announce ($1.69) earnings per share for the current quarter, according to Zacks. Five analysts have provided estimates for Clovis Oncology’s earnings, with the lowest EPS estimate coming in at ($1.89) and the highest estimate coming in at ($1.56). Clovis Oncology posted earnings of ($1.94) per share during the same quarter last year, which suggests a positive year over year growth rate of 12.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 7th.

On average, analysts expect that Clovis Oncology will report full year earnings of ($6.75) per share for the current year, with EPS estimates ranging from ($7.40) to ($6.04). For the next financial year, analysts expect that the firm will report 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 a mean average based on a survey of research firms that follow Clovis Oncology.

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

CLVS has been the topic of a number of research analyst reports. HC Wainwright initiated coverage on shares of Clovis Oncology in a research report on Wednesday, February 13th. They issued a “buy” rating and a $40.00 target price on the stock. Zacks Investment Research lowered shares of Clovis Oncology from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th. JPMorgan Chase & Co. restated a “hold” rating and issued 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, Piper Jaffray Companies raised their target price on shares of Clovis Oncology to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $33.89.

In other Clovis Oncology news, Director James C. Blair sold 17,056 shares of Clovis Oncology stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $27.79, for a total value of $473,986.24. Following the completion of the sale, the director now directly 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 at the SEC website. Also, insider Lindsey Rolfe sold 1,729 shares of Clovis Oncology 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 completion of the sale, the insider now directly owns 20,953 shares of the company’s stock, valued at $547,501.89. The disclosure for this sale can be found here. Insiders have sold 20,782 shares of company stock valued at $576,755 in the last ninety days. Insiders own 8.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE raised its position in shares of Clovis Oncology by 8.4% in the first quarter. US Bancorp DE now owns 8,820 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 681 shares during the period. Teachers Advisors LLC raised its position in shares of Clovis Oncology by 0.9% in the third quarter. Teachers Advisors LLC now owns 144,561 shares of the biopharmaceutical company’s stock valued at $4,246,000 after purchasing an additional 1,278 shares during the period. Creative Planning raised its position in shares of Clovis Oncology by 1.1% in the first quarter. Creative Planning now owns 139,550 shares of the biopharmaceutical company’s stock valued at $3,464,000 after purchasing an additional 1,513 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Clovis Oncology by 93.4% in 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 during the period. Finally, Pearl River Capital LLC bought a new stake in shares of Clovis Oncology in the first quarter valued at approximately $40,000.

Clovis Oncology stock traded down $0.03 during mid-day trading on Wednesday, reaching $17.38. The company had a trading volume of 16,052 shares, compared to its average volume of 1,755,169. Clovis Oncology has a fifty-two week low of $11.50 and a fifty-two week high of $51.76. The company has a debt-to-equity ratio of 8.04, a current ratio of 4.39 and a quick ratio of 4.15. The firm has a market capitalization of $915.39 million, a P/E ratio of -2.45 and a beta of 1.89.

Clovis Oncology Company Profile

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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