Q3 2017 EPS Estimates for Clovis Oncology, Inc. Reduced by Oppenheimer Holdings (NASDAQ:CLVS)
Clovis Oncology, Inc. (NASDAQ:CLVS) – Research analysts at Oppenheimer Holdings decreased their Q3 2017 earnings estimates for shares of Clovis Oncology in a research report issued on Thursday. Oppenheimer Holdings analyst L. Cann now anticipates that the biopharmaceutical company will earn ($1.24) per share for the quarter, down from their previous forecast of ($1.13). Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Clovis Oncology’s Q4 2017 earnings at ($1.12) EPS, Q1 2018 earnings at ($0.85) EPS, Q2 2018 earnings at ($0.67) EPS, Q3 2018 earnings at ($0.64) EPS, Q4 2018 earnings at ($0.51) EPS, FY2018 earnings at ($2.67) EPS, FY2019 earnings at $1.51 EPS, FY2020 earnings at $2.97 EPS and FY2021 earnings at $4.36 EPS.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by $0.02. The company had revenue of $14.62 million for the quarter, compared to analyst estimates of $13.07 million. Clovis Oncology’s revenue was down 32.5% compared to the same quarter last year. During the same quarter last year, the business earned ($2.07) earnings per share. COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/08/07/q3-2017-eps-estimates-for-clovis-oncology-inc-reduced-by-oppenheimer-holdings-nasdaqclvs.html.
A number of other analysts have also weighed in on the stock. Cann started coverage on shares of Clovis Oncology in a report on Thursday, June 22nd. They set a “market perform” rating on the stock. J P Morgan Chase & Co raised shares of Clovis Oncology from a “neutral” rating to an “overweight” rating and set a $72.00 target price on the stock in a report on Wednesday, May 17th. Gabelli started coverage on shares of Clovis Oncology in a report on Friday, July 7th. They set a “buy” rating and a $125.00 target price on the stock. Credit Suisse Group set a $107.00 target price on shares of Clovis Oncology and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, ValuEngine lowered shares of Clovis Oncology from a “hold” rating to a “sell” rating in a report on Friday, May 19th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $81.59.
Clovis Oncology (NASDAQ:CLVS) opened at 78.50 on Monday. The company has a 50-day moving average of $87.51 and a 200-day moving average of $66.24. The company’s market capitalization is $3.50 billion. Clovis Oncology has a 52 week low of $14.62 and a 52 week high of $99.45.
Several institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Clovis Oncology by 271.4% in the first quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock worth $115,679,000 after buying an additional 1,327,703 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Clovis Oncology by 10,143.6% in the first quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company’s stock worth $84,788,000 after buying an additional 1,318,669 shares during the last quarter. Jennison Associates LLC raised its position in shares of Clovis Oncology by 222.5% in the second quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock worth $110,968,000 after buying an additional 817,677 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Clovis Oncology by 1,538.0% in the first quarter. Alliancebernstein L.P. now owns 754,122 shares of the biopharmaceutical company’s stock worth $48,015,000 after buying an additional 708,082 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Clovis Oncology by 25.3% in the first quarter. Vanguard Group Inc. now owns 3,285,195 shares of the biopharmaceutical company’s stock worth $209,169,000 after buying an additional 662,969 shares during the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $47.39, for a total value of $142,170.00. Following the transaction, the insider now owns 203,583 shares of the company’s stock, valued at approximately $9,647,798.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 9,000 shares of company stock worth $602,310 in the last three months. Insiders own 17.40% of the company’s stock.
About Clovis Oncology
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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