Wall Street brokerages expect that Clovis Oncology Inc (NASDAQ:CLVS) will post $6.04 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Clovis Oncology’s earnings, with the lowest sales estimate coming in at $3.5 million and the highest estimate coming in at $9.84 million. Clovis Oncology posted sales of ($999,000,000.00) in the same quarter last year, which would indicate a positive year over year growth rate of 100.6%. The business is scheduled to report its next quarterly earnings report on Thursday, May 4th.
According to Zacks, analysts expect that Clovis Oncology will report full year sales of $6.04 million for the current year, with estimates ranging from $35 million to $69.75 million. For the next year, analysts expect that the firm will post sales of $197.43 million per share, with estimates ranging from $142.28 million to $251.26 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last announced its earnings results on Wednesday, February 22nd. The biopharmaceutical company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($1.65) by $0.18. The firm had revenue of $0.08 million for the quarter. During the same quarter in the prior year, the business earned ($3.12) earnings per share.
A number of research analysts have commented on CLVS shares. Stifel Nicolaus boosted their price objective on Clovis Oncology from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Vetr cut Clovis Oncology from a “hold” rating to a “sell” rating and set a $38.50 price objective on the stock. in a research note on Monday, December 19th. Chardan Capital upgraded Clovis Oncology from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $15.00 to $36.00 in a research note on Tuesday, December 20th. Piper Jaffray Companies set a $43.00 price objective on Clovis Oncology and gave the stock a “hold” rating in a research note on Tuesday, December 20th. Finally, JPMorgan Chase & Co. set a $49.00 price objective on Clovis Oncology and gave the stock a “hold” rating in a research note on Tuesday, December 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $58.93.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of Clovis Oncology stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $66.99, for a total transaction of $200,970.00. Following the sale, the insider now directly owns 209,583 shares of the company’s stock, valued at $14,039,965.17. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 17.40% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Clovis Oncology by 20.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,400 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares in the last quarter. DIAM Co. Ltd. purchased a new stake in shares of Clovis Oncology during the third quarter valued at $168,000. M&T Bank Corp purchased a new stake in shares of Clovis Oncology during the third quarter valued at $207,000. Alpine Woods Capital Investors LLC purchased a new stake in shares of Clovis Oncology during the third quarter valued at $216,000. Finally, Columbus Circle Investors purchased a new stake in shares of Clovis Oncology during the third quarter valued at $228,000. 88.48% of the stock is owned by hedge funds and other institutional investors.
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Shares of Clovis Oncology (NASDAQ:CLVS) traded up 4.4661% during midday trading on Thursday, hitting $56.1401. 732,480 shares of the stock traded hands. Clovis Oncology has a one year low of $11.57 and a one year high of $74.94. The firm has a 50-day moving average price of $62.40 and a 200 day moving average price of $48.01. The stock’s market cap is $2.51 billion.
Clovis Oncology Company Profile
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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