Brokerages Anticipate Clovis Oncology, Inc. (CLVS) Will Announce Quarterly Sales of $20.02 Million

Equities analysts predict that Clovis Oncology, Inc. (NASDAQ:CLVS) will announce $20.02 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Clovis Oncology’s earnings, with estimates ranging from $18.61 million to $24.00 million. Clovis Oncology posted sales of $80,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 24,925%. The firm is expected to report its next quarterly earnings report on Wednesday, February 28th.

On average, analysts expect that Clovis Oncology will report full year sales of $20.02 million for the current financial year, with estimates ranging from $55.27 million to $62.47 million. For the next year, analysts expect that the business will report sales of $209.03 million per share, with estimates ranging from $168.20 million to $279.59 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS) last announced its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.06). Clovis Oncology had a negative return on equity of 122.06% and a negative net margin of 947.47%. The firm had revenue of $16.81 million during the quarter, compared to analysts’ expectations of $21.12 million. During the same quarter in the previous year, the firm earned ($1.70) earnings per share.

A number of equities analysts recently weighed in on CLVS shares. Barclays started coverage on shares of Clovis Oncology in a report on Monday, October 23rd. They issued an “overweight” rating and a $105.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and issued a $125.00 price objective on shares of Clovis Oncology in a report on Friday, November 3rd. Royal Bank of Canada began coverage on shares of Clovis Oncology in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $81.00 target price for the company. Cann reaffirmed a “hold” rating on shares of Clovis Oncology in a research report on Monday, September 11th. Finally, Zacks Investment Research raised shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $86.15.

Clovis Oncology (NASDAQ CLVS) opened at $64.13 on Friday. Clovis Oncology has a 1-year low of $36.40 and a 1-year 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.

In other Clovis Oncology news, Director Thorlef Spickschen sold 4,500 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $60.00, for a total value of $270,000.00. Following the sale, the director now owns 25,618 shares in the company, valued at approximately $1,537,080. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $63.70, for a total transaction of $191,100.00. The disclosure for this sale can be found here. Insiders sold a total of 10,500 shares of company stock valued at $714,720 in the last ninety days. 12.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Clovis Oncology by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,618,843 shares of the biopharmaceutical company’s stock worth $338,831,000 after purchasing an additional 333,648 shares during the period. Orbimed Advisors LLC grew its stake in Clovis Oncology by 13.5% in the 3rd quarter. Orbimed Advisors LLC now owns 2,388,670 shares of the biopharmaceutical company’s stock worth $196,826,000 after acquiring an additional 284,300 shares in the last quarter. State Street Corp grew its stake in Clovis Oncology by 4.3% in the 2nd quarter. State Street Corp now owns 1,943,480 shares of the biopharmaceutical company’s stock worth $181,966,000 after acquiring an additional 80,171 shares in the last quarter. Franklin Resources Inc. grew its stake in Clovis Oncology by 70.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,665,200 shares of the biopharmaceutical company’s stock worth $155,913,000 after acquiring an additional 687,300 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Clovis Oncology by 222.5% in the 2nd quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock worth $110,968,000 after acquiring an additional 817,677 shares in the last quarter.

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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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