Clovis Oncology, Inc. (CLVS) to Post Q4 2017 Earnings of ($1.23) Per Share, Oppenheimer Holdings Forecasts
Clovis Oncology, Inc. (NASDAQ:CLVS) – Equities researchers at Oppenheimer Holdings cut their Q4 2017 earnings per share (EPS) estimates for Clovis Oncology in a report issued on Wednesday. Oppenheimer Holdings analyst L. Cann now forecasts that the biopharmaceutical company will post earnings per share of ($1.23) for the quarter, down from their previous forecast of ($1.12). Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Clovis Oncology’s Q1 2018 earnings at ($1.16) EPS, Q2 2018 earnings at ($0.68) EPS, Q3 2018 earnings at ($0.46) EPS, Q4 2018 earnings at ($0.17) EPS, FY2018 earnings at ($2.46) EPS, FY2019 earnings at $1.46 EPS, FY2020 earnings at $2.82 EPS and FY2021 earnings at $4.11 EPS.
Other research analysts also recently issued reports about the company. Stifel Nicolaus restated a “buy” rating and set a $125.00 price objective on shares of Clovis Oncology in a research report on Friday. BidaskClub cut shares of Clovis Oncology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Morgan Stanley reissued an “overweight” rating and issued a $93.00 price objective on shares of Clovis Oncology in a research report on Thursday, August 10th. Bank of America Corporation reaffirmed a “buy” rating on shares of Clovis Oncology in a research report on Thursday, August 3rd. Finally, Leerink Swann reduced their price target on shares of Clovis Oncology to $107.00 and set an “outperform” rating on the stock in a research report on Friday, August 18th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $87.15.
Clovis Oncology (NASDAQ:CLVS) opened at $73.59 on Monday. Clovis Oncology has a 52-week low of $25.81 and a 52-week high of $99.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.19 and a quick ratio of 3.16.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.18) by ($0.06). Clovis Oncology had a negative net margin of 947.47% and a negative return on equity of 122.06%. The company had revenue of $16.81 million during the quarter, compared to analysts’ expectations of $21.12 million. During the same quarter last year, the business posted ($1.70) earnings per share.
Several institutional investors and hedge funds have recently bought and sold shares of CLVS. Greenwood Capital Associates LLC raised its holdings in Clovis Oncology by 4.0% in the 2nd quarter. Greenwood Capital Associates LLC now owns 5,485 shares of the biopharmaceutical company’s stock valued at $514,000 after buying an additional 212 shares during the last quarter. Sphera Funds Management LTD. bought a new stake in shares of Clovis Oncology in the 2nd quarter valued at $8,708,000. Boston Advisors LLC bought a new stake in shares of Clovis Oncology in the 2nd quarter valued at $8,332,000. Federated Investors Inc. PA increased its stake in shares of Clovis Oncology by 27.2% in the 2nd quarter. Federated Investors Inc. PA now owns 29,330 shares of the biopharmaceutical company’s stock valued at $2,746,000 after acquiring an additional 6,265 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Clovis Oncology by 19.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,863 shares of the biopharmaceutical company’s stock valued at $2,234,000 after acquiring an additional 3,894 shares in the last quarter.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $69.50, for a total value of $208,500.00. Following the transaction, the insider now directly owns 191,583 shares of the company’s stock, valued at $13,315,018.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 9,000 shares of company stock worth $672,270 over the last ninety days. Insiders own 12.50% 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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