$41.24 Million in Sales Expected for Clovis Oncology (NASDAQ:CLVS) This Quarter

Wall Street brokerages expect that Clovis Oncology (NASDAQ:CLVS) will announce $41.24 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Clovis Oncology’s earnings, with the highest sales estimate coming in at $42.56 million and the lowest estimate coming in at $39.48 million. Clovis Oncology posted sales of $30.35 million in the same quarter last year, which suggests a positive year over year growth rate of 35.9%. The firm is scheduled to announce its next earnings report on Tuesday, February 25th.

On average, analysts expect that Clovis Oncology will report full year sales of $144.94 million for the current financial year, with estimates ranging from $143.18 million to $146.26 million. For the next fiscal year, analysts expect that the firm will report sales of $209.66 million, with estimates ranging from $193.84 million to $225.00 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Clovis Oncology.

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

Several research analysts have weighed in on the company. Leerink Swann downgraded Clovis Oncology from an “outperform” rating to a “market perform” rating and set a $10.00 price target for the company. in a report on Tuesday, September 24th. Bank of America set a $7.00 price objective on Clovis Oncology and gave the company a “hold” rating in a research report on Friday, September 27th. Piper Jaffray Companies dropped their target price on Clovis Oncology from $11.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Clovis Oncology in a research report on Monday, September 30th. Finally, BidaskClub raised Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.92.

A number of large investors have recently made changes to their positions in CLVS. Ropes Wealth Advisors LLC acquired a new stake in shares of Clovis Oncology in the second quarter worth $27,000. Aperio Group LLC purchased a new stake in Clovis Oncology during the 2nd quarter worth $48,000. Quantamental Technologies LLC acquired a new stake in Clovis Oncology in the 2nd quarter valued at $53,000. Bank of Montreal Can increased its holdings in Clovis Oncology by 55.8% in the 2nd quarter. Bank of Montreal Can now owns 9,652 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 3,457 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Clovis Oncology by 24.6% in 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 in the last quarter. Institutional investors own 92.21% of the company’s stock.

Shares of CLVS opened at $9.61 on Monday. Clovis Oncology has a 1 year low of $2.93 and a 1 year high of $32.05. The company’s 50 day simple moving average is $6.72 and its 200 day simple moving average is $8.84. The company has a market capitalization of $526.77 million, a price-to-earnings ratio of -1.36 and a beta of 3.12. The company has a debt-to-equity ratio of 8.04, a quick ratio of 3.53 and a current ratio of 3.76.

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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Earnings History and Estimates for Clovis Oncology (NASDAQ:CLVS)

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