Zacks: Brokerages Expect Clovis Oncology (NASDAQ:CLVS) to Announce -$1.69 EPS

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Brokerages expect Clovis Oncology (NASDAQ:CLVS) to announce earnings of ($1.69) per share for the current quarter, according to Zacks. Five analysts have provided estimates for Clovis Oncology’s earnings, with the lowest EPS estimate coming in at ($1.89) and the highest estimate coming in at ($1.56). Clovis Oncology reported earnings of ($1.94) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 12.9%. The business is expected to report its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Clovis Oncology will report full year earnings of ($6.75) per share for the current year, with EPS estimates ranging from ($7.40) to ($6.04). For the next fiscal year, analysts expect that the business will post earnings of ($5.33) per share, with EPS estimates ranging from ($6.07) to ($3.86). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($1.63) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.80) by $0.17. Clovis Oncology had a negative net margin of 342.54% and a negative return on equity of 196.39%. The firm had revenue of $33.12 million during the quarter, compared to analysts’ expectations of $32.10 million. During the same period last year, the company posted ($1.38) EPS. The company’s quarterly revenue was up 78.8% compared to the same quarter last year.

Several brokerages recently issued reports on CLVS. BidaskClub upgraded shares of Clovis Oncology from a “strong sell” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $27.00 price target on shares of Clovis Oncology in a research note on Monday, June 3rd. Goldman Sachs Group lowered shares of Clovis Oncology from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $17.00 to $15.00 in a research note on Wednesday, May 29th. HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of Clovis Oncology in a research note on Tuesday, May 21st. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $29.00 price target on shares of Clovis Oncology in a research note on Wednesday, May 15th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.44.

In other Clovis Oncology news, insider Lindsey Rolfe sold 1,729 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $26.13, for a total transaction of $45,178.77. Following the completion of the sale, the insider now directly owns 20,953 shares in the company, valued at approximately $547,501.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 2,453 shares of company stock valued at $56,038. 8.30% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CLVS. US Bancorp DE grew its stake in shares of Clovis Oncology by 8.4% in the first quarter. US Bancorp DE now owns 8,820 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 681 shares during the period. Creative Planning grew its stake in shares of Clovis Oncology by 1.1% in the first quarter. Creative Planning now owns 139,550 shares of the biopharmaceutical company’s stock worth $3,464,000 after acquiring an additional 1,513 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Clovis Oncology by 93.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,146 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,519 shares during the period. Pearl River Capital LLC bought a new stake in shares of Clovis Oncology in the first quarter worth approximately $40,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Clovis Oncology by 7.3% in the first quarter. The Manufacturers Life Insurance Company now owns 31,161 shares of the biopharmaceutical company’s stock worth $774,000 after acquiring an additional 2,127 shares during the period. Institutional investors and hedge funds own 93.28% of the company’s stock.

Shares of NASDAQ:CLVS traded down $0.42 on Friday, hitting $12.95. The company had a trading volume of 1,286,678 shares, compared to its average volume of 1,680,285. Clovis Oncology has a 1 year low of $11.50 and a 1 year high of $50.00. The company has a current ratio of 4.39, a quick ratio of 4.15 and a debt-to-equity ratio of 8.04. The stock has a market cap of $708.74 million, a price-to-earnings ratio of -1.83 and a beta of 1.99.

About Clovis Oncology

Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.

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