Brokerages forecast that Clovis Oncology (NASDAQ:CLVS) will report sales of $17.50 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Clovis Oncology’s earnings. The lowest sales estimate is $17.00 million and the highest is $18.30 million. Clovis Oncology posted sales of $7.05 million in the same quarter last year, which suggests a positive year over year growth rate of 148.2%. The firm is expected to report its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Clovis Oncology will report full year sales of $146.53 million for the current year, with estimates ranging from $112.00 million to $173.30 million. For the next fiscal year, analysts forecast that the business will report sales of $327.11 million per share, with estimates ranging from $245.00 million to $403.53 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($1.04) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.25. Clovis Oncology had a negative return on equity of 81.34% and a negative net margin of 624.02%. The company had revenue of $17.04 million during the quarter, compared to analyst estimates of $19.42 million. During the same quarter last year, the firm posted ($1.83) earnings per share. The firm’s revenue was up 21746.2% on a year-over-year basis.
A number of analysts recently commented on the company. BidaskClub raised Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. ValuEngine lowered Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Tuesday. Oppenheimer reaffirmed a “hold” rating on shares of Clovis Oncology in a research note on Wednesday, December 20th. Stifel Nicolaus dropped their price target on Clovis Oncology from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Cann reissued a “hold” rating on shares of Clovis Oncology in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Clovis Oncology currently has an average rating of “Buy” and an average price target of $87.60.
In other news, Director Thorlef Spickschen sold 4,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.00, for a total transaction of $270,000.00. Following the completion of the transaction, the director now directly owns 16,618 shares in the company, valued at $997,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the insider now owns 180,571 shares of the company’s stock, valued at $9,767,085.39. The disclosure for this sale can be found here. Insiders have sold 16,500 shares of company stock valued at $978,975 in the last three months. Insiders own 12.50% of the company’s stock.
Several large investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB bought a new position in shares of Clovis Oncology during the fourth quarter valued at $328,000. Delek Group Ltd. bought a new stake in Clovis Oncology in the 4th quarter worth about $2,852,000. MetLife Investment Advisors LLC bought a new stake in Clovis Oncology in the 4th quarter worth about $1,374,000. Endurant Capital Management LP increased its holdings in Clovis Oncology by 19.2% in the 4th quarter. Endurant Capital Management LP now owns 67,650 shares of the biopharmaceutical company’s stock worth $4,600,000 after buying an additional 10,900 shares in the last quarter. Finally, Palo Alto Investors LLC increased its holdings in Clovis Oncology by 2.2% in the 4th quarter. Palo Alto Investors LLC now owns 3,402,781 shares of the biopharmaceutical company’s stock worth $231,389,000 after buying an additional 73,200 shares in the last quarter.
CLVS stock traded down $0.90 on Friday, reaching $53.51. The company’s stock had a trading volume of 4,027,687 shares, compared to its average volume of 1,337,168. Clovis Oncology has a 12-month low of $45.42 and a 12-month high of $99.45. The firm has a market capitalization of $3,066.76, a price-to-earnings ratio of -10.64 and a beta of 0.93. The company has a quick ratio of 7.35, a current ratio of 7.69 and a debt-to-equity ratio of 0.77.
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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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