Clovis Oncology Inc (CLVS) Expected to Post Quarterly Sales of $14.49 Million
Brokerages expect Clovis Oncology Inc (NASDAQ:CLVS) to announce $14.49 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Clovis Oncology’s earnings. The lowest sales estimate is $11.5 million and the highest is $17.5 million. The firm is scheduled to announce its next earnings results on Monday, August 14th.
According to Zacks, analysts expect that Clovis Oncology will report full-year sales of $14.49 million for the current financial year, with estimates ranging from $53.6 million to $73.75 million. For the next fiscal year, analysts forecast that the business will post sales of $216.55 million per share, with estimates ranging from $184.03 million to $251.26 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.10. The business had revenue of $7.05 million for the quarter, compared to analysts’ expectations of $6.04 million.
Several brokerages have recently weighed in on CLVS. Chardan Capital lowered shares of Clovis Oncology from a “neutral” rating to a “sell” rating and set a $36.00 target price on the stock. in a research report on Friday, February 3rd. Zacks Investment Research lowered shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research report on Wednesday, February 8th. Credit Suisse Group AG lifted their target price on shares of Clovis Oncology from $53.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. JPMorgan Chase & Co. set a $58.00 target price on shares of Clovis Oncology and gave the company a “hold” rating in a research report on Thursday, February 23rd. Finally, Piper Jaffray Companies set a $77.00 target price on shares of Clovis Oncology and gave the company a “buy” rating in a research report on Tuesday, March 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Clovis Oncology presently has an average rating of “Hold” and an average target price of $60.79.
In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $47.39, for a total value of $142,170.00. Following the completion of the transaction, the insider now directly owns 203,583 shares of the company’s stock, valued at $9,647,798.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 9,000 shares of company stock valued at $511,200. Insiders own 17.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in CLVS. Ladenburg Thalmann Financial Services Inc. increased its stake in Clovis Oncology by 20.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,400 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 400 shares during the period. First Mercantile Trust Co. acquired a new stake in Clovis Oncology during the first quarter worth $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Clovis Oncology by 71.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,819 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 758 shares during the period. PNC Financial Services Group Inc. increased its stake in Clovis Oncology by 3.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,800 shares of the biopharmaceutical company’s stock worth $179,000 after buying an additional 100 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Clovis Oncology during the first quarter worth $185,000. 88.48% of the stock is owned by institutional investors.
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Shares of Clovis Oncology (NASDAQ:CLVS) opened at 52.17 on Friday. The company’s 50-day moving average is $53.55 and its 200-day moving average is $52.73. The stock’s market capitalization is $2.34 billion. Clovis Oncology has a 12 month low of $11.57 and a 12 month high of $74.94.
Clovis Oncology Company Profile
Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.
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