Clovis Oncology, Inc. to Post Q3 2017 Earnings of ($1.10) Per Share, SunTrust Banks Forecasts (CLVS)
Clovis Oncology, Inc. (NASDAQ:CLVS) – Stock analysts at SunTrust Banks cut their Q3 2017 earnings per share (EPS) estimates for Clovis Oncology in a report released on Wednesday. SunTrust Banks analyst P. Lawson now expects that the biopharmaceutical company will post earnings of ($1.10) per share for the quarter, down from their prior forecast of ($1.05). SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Clovis Oncology’s Q4 2017 earnings at ($1.03) EPS, FY2017 earnings at ($4.73) EPS and FY2018 earnings at ($1.64) EPS.
Clovis Oncology (NASDAQ:CLVS) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.27) by $0.02. The firm had revenue of $14.62 million during the quarter, compared to analyst estimates of $13.07 million. During the same quarter in the prior year, the company earned ($2.07) EPS. The firm’s quarterly revenue was down 32.5% on a year-over-year basis.
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Several other equities research analysts have also weighed in on CLVS. Cann began coverage on Clovis Oncology in a research note on Thursday, June 22nd. They set a “market perform” rating for the company. J P Morgan Chase & Co raised Clovis Oncology from a “neutral” rating to an “overweight” rating and set a $72.00 price objective for the company in a research note on Wednesday, May 17th. Gabelli began coverage on Clovis Oncology in a research note on Friday, July 7th. They set a “buy” rating and a $125.00 price objective for the company. Credit Suisse Group set a $107.00 price objective on Clovis Oncology and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, ValuEngine lowered Clovis Oncology from a “hold” rating to a “sell” rating in a research note on Friday, May 19th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $81.59.
Shares of Clovis Oncology (NASDAQ:CLVS) opened at 78.50 on Monday. Clovis Oncology has a 12 month low of $14.62 and a 12 month high of $99.45. The stock has a 50 day moving average price of $87.51 and a 200 day moving average price of $66.24. The stock’s market capitalization is $3.50 billion.
Institutional investors have recently bought and sold shares of the company. Aperio Group LLC raised its position in Clovis Oncology by 1.7% in the second quarter. Aperio Group LLC now owns 5,093 shares of the biopharmaceutical company’s stock worth $477,000 after buying an additional 83 shares during the last quarter. PNC Financial Services Group Inc. raised its position 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 last quarter. Clough Capital Partners L P raised its position in Clovis Oncology by 0.6% in the first quarter. Clough Capital Partners L P now owns 15,900 shares of the biopharmaceutical company’s stock worth $1,012,000 after buying an additional 100 shares during the last quarter. Chicago Equity Partners LLC raised its position in Clovis Oncology by 2.1% in the first quarter. Chicago Equity Partners LLC now owns 19,520 shares of the biopharmaceutical company’s stock worth $1,243,000 after buying an additional 400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $61.82, for a total value of $185,460.00. Following the transaction, the insider now directly owns 200,583 shares in the company, valued at $12,400,041.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 9,000 shares of company stock worth $602,310 over the last quarter. 17.40% of the stock is currently owned by corporate insiders.
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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