Zacks: Brokerages Anticipate Clovis Oncology (NASDAQ:CLVS) to Announce -$1.58 Earnings Per Share

Equities research analysts predict that Clovis Oncology (NASDAQ:CLVS) will post earnings per share of ($1.58) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Clovis Oncology’s earnings, with estimates ranging from ($1.83) to ($1.32). Clovis Oncology posted earnings of ($1.88) per share in the same quarter last year, which would indicate a positive year over year growth rate of 16%. The firm is expected to report its next quarterly earnings report on Tuesday, February 25th.

On average, analysts expect that Clovis Oncology will report full year earnings of ($7.13) per share for the current financial year, with EPS estimates ranging from ($7.30) to ($6.93). For the next year, analysts anticipate that the business will post earnings of ($5.43) per share, with EPS estimates ranging from ($5.78) to ($4.43). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($1.72) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.89) by $0.17. Clovis Oncology had a negative return on equity of 1,576.32% and a negative net margin of 298.53%. The business had revenue of $37.60 million for the quarter, compared to analysts’ expectations of $35.84 million. During the same quarter in the previous year, the firm earned ($1.71) earnings per share. The business’s revenue was up 65.2% on a year-over-year basis.

Several brokerages have issued reports on CLVS. Svb Leerink lowered Clovis Oncology from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $22.00 to $10.00 in a research note on Tuesday, September 24th. HC Wainwright set a $36.00 target price on Clovis Oncology and gave the company a “buy” rating in a research note on Monday, September 30th. Piper Jaffray Companies lowered their target price on Clovis Oncology from $11.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. ValuEngine lowered Clovis Oncology from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Clovis Oncology in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.75.

Several institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. raised its stake in shares of Clovis Oncology by 6.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 29,955 shares of the biopharmaceutical company’s stock valued at $445,000 after purchasing an additional 1,782 shares during the period. Ropes Wealth Advisors LLC bought a new stake in shares of Clovis Oncology during the 2nd quarter valued at $27,000. Man Group plc raised its stake in shares of Clovis Oncology by 1.2% during the 2nd quarter. Man Group plc now owns 169,524 shares of the biopharmaceutical company’s stock valued at $2,521,000 after purchasing an additional 2,000 shares during the period. US Bancorp DE raised its stake in shares of Clovis Oncology by 24.6% during the 2nd quarter. US Bancorp DE now owns 10,991 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 2,171 shares during the period. Finally, Aperio Group LLC bought a new stake in shares of Clovis Oncology during the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 91.15% of the company’s stock.

CLVS stock traded up $0.73 during midday trading on Thursday, hitting $7.79. The company’s stock had a trading volume of 19,154,100 shares, compared to its average volume of 3,141,613. The stock has a market cap of $349.72 million, a price-to-earnings ratio of -1.10 and a beta of 1.76. The stock’s 50-day moving average price is $4.12 and its 200 day moving average price is $9.49. The company has a quick ratio of 3.53, a current ratio of 3.76 and a debt-to-equity ratio of 8.04. Clovis Oncology has a 1 year low of $2.93 and a 1 year high of $32.05.

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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