Clovis Oncology, Inc. (CLVS) Issues Quarterly Earnings Results
Clovis Oncology, Inc. (NASDAQ:CLVS) posted its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($1.18) by ($0.06), Bloomberg Earnings reports. The business had revenue of $16.81 million during the quarter, compared to the consensus estimate of $21.12 million. During the same period last year, the business earned ($1.70) EPS.
CLVS has been the subject of several recent analyst reports. Cann restated a “hold” rating on shares of Clovis Oncology in a report on Monday, September 11th. Evercore ISI initiated coverage on Clovis Oncology in a report on Wednesday, August 16th. They set an “in-line” rating and a $73.00 target price for the company. Royal Bank Of Canada initiated coverage on Clovis Oncology in a report on Thursday, September 14th. They set a “sector perform” rating and a $81.00 target price for the company. Bank of America Corporation reiterated a “buy” rating on shares of Clovis Oncology in a report on Thursday, August 3rd. Finally, Gabelli initiated coverage on Clovis Oncology in a report on Friday, July 7th. They set a “buy” rating and a $125.00 target price for the company. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Clovis Oncology currently has a consensus rating of “Buy” and an average price target of $87.56.
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In other news, Director James C. Blair sold 18,450 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $78.61, for a total transaction of $1,450,354.50. Following the transaction, the director now owns 2,185 shares of the company’s stock, valued at approximately $171,762.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $84.54, for a total value of $253,620.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,450 shares of company stock worth $2,122,625. 12.50% of the stock is currently owned by insiders.
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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