Clovis Oncology (NASDAQ:CLVS) Expected to Post Earnings of -$1.92 Per Share

Equities research analysts forecast that Clovis Oncology (NASDAQ:CLVS) will announce earnings per share (EPS) of ($1.92) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Clovis Oncology’s earnings, with the lowest EPS estimate coming in at ($2.38) and the highest estimate coming in at ($1.64). Clovis Oncology posted earnings of ($1.71) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 12.3%. The firm is expected to issue its next earnings results on Tuesday, October 29th.

On average, analysts expect that Clovis Oncology will report full-year earnings of ($7.56) per share for the current year, with EPS estimates ranging from ($8.79) to ($6.70). For the next financial year, analysts anticipate that the company will post earnings of ($6.00) per share, with EPS estimates ranging from ($7.32) to ($5.13). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($2.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.70) by ($0.57). Clovis Oncology had a negative net margin of 332.18% and a negative return on equity of 372.68%. The firm had revenue of $32.98 million during the quarter, compared to the consensus estimate of $34.92 million. During the same quarter in the prior year, the firm posted ($1.94) earnings per share. The company’s revenue was up 38.8% on a year-over-year basis.

A number of equities research analysts recently issued reports on CLVS shares. Barclays set a $36.00 price objective on Clovis Oncology and gave the company a “buy” rating in a research note on Friday, August 2nd. Leerink Swann cut Clovis Oncology from an “outperform” rating to a “market perform” rating and set a $10.00 price objective on the stock. in a research note on Tuesday, September 24th. JPMorgan Chase & Co. restated a “hold” rating on shares of Clovis Oncology in a research note on Monday. HC Wainwright set a $36.00 price objective on Clovis Oncology and gave the company a “buy” rating in a research note on Monday. Finally, Svb Leerink lowered Clovis Oncology from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $22.00 to $10.00 in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Clovis Oncology presently has an average rating of “Hold” and a consensus price target of $22.17.

In related news, Director James C. Blair purchased 40,000 shares of Clovis Oncology stock in a transaction dated Tuesday, August 20th. The stock was purchased at an average cost of $5.84 per share, for a total transaction of $233,600.00. Following the completion of the acquisition, the director now directly owns 33,439 shares of the company’s stock, valued at $195,283.76. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Patrick J. Mahaffy purchased 50,000 shares of Clovis Oncology stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $5.59 per share, with a total value of $279,500.00. Following the completion of the acquisition, the insider now directly owns 919,187 shares of the company’s stock, valued at $5,138,255.33. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 107,800 shares of company stock valued at $612,094 and sold 1,706 shares valued at $8,755. 8.30% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. First Trust Advisors LP bought a new position in shares of Clovis Oncology during the second quarter valued at $723,000. Gabelli Funds LLC increased its holdings in shares of Clovis Oncology by 143.6% during the second quarter. Gabelli Funds LLC now owns 108,900 shares of the biopharmaceutical company’s stock valued at $1,619,000 after acquiring an additional 64,200 shares in the last quarter. Aperio Group LLC bought a new position in shares of Clovis Oncology during the second quarter valued at $48,000. Bourgeon Capital Management LLC bought a new position in shares of Clovis Oncology during the second quarter valued at $186,000. Finally, Sector Gamma AS increased its holdings in shares of Clovis Oncology by 13.6% during the second quarter. Sector Gamma AS now owns 431,425 shares of the biopharmaceutical company’s stock valued at $6,415,000 after acquiring an additional 51,648 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Clovis Oncology stock traded down $0.14 during midday trading on Friday, reaching $3.71. The stock had a trading volume of 67,641 shares, compared to its average volume of 4,093,234. Clovis Oncology has a 12 month low of $3.70 and a 12 month high of $32.70. The firm’s 50-day moving average price is $5.20 and its 200 day moving average price is $13.88. The firm has a market capitalization of $210.71 million, a PE ratio of -0.52 and a beta of 1.86. The company has a quick ratio of 3.32, a current ratio of 3.57 and a debt-to-equity ratio of 8.04.

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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