Zacks: Analysts Anticipate Clovis Oncology, Inc. (CLVS) to Post -$1.16 EPS
Analysts expect Clovis Oncology, Inc. (NASDAQ:CLVS) to announce ($1.16) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Clovis Oncology’s earnings, with estimates ranging from ($1.24) to ($1.10). Clovis Oncology posted earnings of ($1.70) per share in the same quarter last year, which suggests a positive year over year growth rate of 31.8%. The company is scheduled to report its next earnings report on Thursday, November 2nd.
On average, analysts expect that Clovis Oncology will report full year earnings of ($7.43) per share for the current year, with EPS estimates ranging from ($7.80) to ($7.19). For the next fiscal year, analysts anticipate that the company will report earnings of ($2.48) per share, with EPS estimates ranging from ($3.39) to ($1.64). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.02). The business 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 firm posted ($2.07) EPS. Clovis Oncology’s revenue for the quarter was down 32.5% on a year-over-year basis.
A number of analysts recently issued reports on the company. Cann assumed coverage on Clovis Oncology in a research note on Thursday, June 22nd. They set a “market perform” rating for the company. Evercore ISI assumed coverage on Clovis Oncology in a research note on Wednesday, August 16th. They set an “in-line” rating and a $73.00 target price for the company. J P Morgan Chase & Co reissued a “buy” rating on shares of Clovis Oncology in a research note on Friday, August 18th. Leerink Swann lowered their target price on Clovis Oncology to $107.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. Finally, BidaskClub raised Clovis Oncology from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $86.47.
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In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $84.54, for a total value of $253,620.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Blair sold 18,450 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $78.61, for a total value of $1,450,354.50. Following the completion of the sale, the director now directly owns 2,185 shares of the company’s stock, valued at approximately $171,762.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,450 shares of company stock valued at $2,122,625. Insiders own 12.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Phocas Financial Corp. acquired a new stake in shares of Clovis Oncology in the 2nd quarter valued at approximately $112,000. Asymmetry Capital Management L.P. boosted its holdings in shares of Clovis Oncology by 912.0% in the 2nd quarter. Asymmetry Capital Management L.P. now owns 32,385 shares of the biopharmaceutical company’s stock valued at $3,032,000 after buying an additional 29,185 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Clovis Oncology by 21.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,725 shares of the biopharmaceutical company’s stock valued at $349,000 after buying an additional 655 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Clovis Oncology by 6.2% in the 2nd quarter. California State Teachers Retirement System now owns 76,735 shares of the biopharmaceutical company’s stock valued at $7,185,000 after buying an additional 4,490 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Clovis Oncology by 18.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,408 shares of the biopharmaceutical company’s stock valued at $2,847,000 after buying an additional 4,699 shares during the last quarter. 98.94% of the stock is owned by institutional investors.
Clovis Oncology (NASDAQ CLVS) opened at 78.72 on Thursday. The firm has a 50 day moving average of $77.57 and a 200 day moving average of $71.40. The firm’s market capitalization is $3.85 billion. Clovis Oncology has a one year low of $25.81 and a one year high of $99.45.
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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