Zacks: Analysts Anticipate Clovis Oncology, Inc. (CLVS) Will Post Quarterly Sales of $18.58 Million
Wall Street brokerages predict that Clovis Oncology, Inc. (NASDAQ:CLVS) will announce $18.58 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Clovis Oncology’s earnings. The highest sales estimate is $23.60 million and the lowest is $10.60 million. The firm is scheduled to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Clovis Oncology will report full-year sales of $18.58 million for the current fiscal year, with estimates ranging from $52.80 million to $74.00 million. For the next year, analysts anticipate that the firm will report sales of $245.51 million per share, with estimates ranging from $197.21 million to $297.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by $0.02. The firm had revenue of $14.62 million for the quarter, compared to the consensus estimate of $13.07 million. During the same period last year, the business earned ($2.07) earnings per share. The firm’s revenue for the quarter was down 32.5% compared to the same quarter last year.
Several equities analysts have recently issued reports on the stock. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $111.00 price target (up previously from $72.00) on shares of Clovis Oncology in a research note on Tuesday, June 20th. Bank of America Corporation dropped their price target on shares of Clovis Oncology from $103.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, June 20th. Zacks Investment Research downgraded shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Janney Montgomery Scott raised shares of Clovis Oncology from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price target on shares of Clovis Oncology in a research note on Tuesday, June 20th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $81.59.
In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $61.82, for a total value of $185,460.00. Following the completion of the sale, 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 valued at $602,310 over the last 90 days. Corporate insiders own 17.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Frontier Capital Management Co. LLC bought a new stake in Clovis Oncology during the first quarter worth approximately $4,617,000. Norges Bank bought a new stake in Clovis Oncology during the fourth quarter worth approximately $13,155,000. Renaissance Technologies LLC bought a new stake in Clovis Oncology during the fourth quarter worth approximately $3,647,000. Jasper Ridge Partners L.P. boosted its stake in Clovis Oncology by 100.0% in the first quarter. Jasper Ridge Partners L.P. now owns 9,184 shares of the biopharmaceutical company’s stock worth $585,000 after buying an additional 4,592 shares during the last quarter. Finally, Shell Asset Management Co. bought a new stake in Clovis Oncology during the first quarter worth approximately $489,000. Institutional investors and hedge funds own 90.01% of the company’s stock.
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Clovis Oncology (NASDAQ CLVS) opened at 78.50 on Monday. Clovis Oncology has a one year low of $14.62 and a one year high of $99.45. The firm’s market cap is $3.50 billion. The stock has a 50 day moving average of $87.51 and a 200 day moving average of $66.24.
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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