Brokerages Expect Clovis Oncology (NASDAQ:CLVS) Will Post Quarterly Sales of $36.45 Million

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Analysts forecast that Clovis Oncology (NASDAQ:CLVS) will post $36.45 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Clovis Oncology’s earnings, with the highest sales estimate coming in at $39.00 million and the lowest estimate coming in at $34.30 million. Clovis Oncology posted sales of $22.76 million during the same quarter last year, which suggests a positive year-over-year growth rate of 60.1%. The company is scheduled to report its next earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that Clovis Oncology will report full year sales of $141.72 million for the current year, with estimates ranging from $137.23 million to $147.89 million. For the next year, analysts expect that the company will report sales of $211.86 million, with estimates ranging from $193.84 million to $246.93 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($2.27) EPS for the quarter, missing the consensus estimate of ($1.70) by ($0.57). Clovis Oncology had a negative net margin of 332.18% and a negative return on equity of 372.68%. The business had revenue of $32.98 million for the quarter, compared to analysts’ expectations of $34.92 million. During the same quarter in the prior year, the business posted ($1.94) earnings per share. The business’s revenue for the quarter was up 38.8% on a year-over-year basis.

A number of equities analysts recently commented on the company. Guggenheim cut Clovis Oncology from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $27.00 target price on shares of Clovis Oncology in a report on Monday, June 3rd. Goldman Sachs Group cut Clovis Oncology from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $17.00 to $15.00 in a report on Wednesday, May 29th. Royal Bank of Canada set a $26.00 target price on Clovis Oncology and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Bank of America cut Clovis Oncology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $13.00 to $7.00 in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $25.09.

Shares of CLVS stock traded up $0.17 on Friday, reaching $5.77. The stock had a trading volume of 43,762 shares, compared to its average volume of 4,697,737. The stock has a market cap of $306.10 million, a P/E ratio of -0.81 and a beta of 1.86. Clovis Oncology has a 1 year low of $4.98 and a 1 year high of $37.27. The company has a debt-to-equity ratio of 8.04, a quick ratio of 3.32 and a current ratio of 3.57. The company has a 50 day simple moving average of $10.96 and a 200 day simple moving average of $18.78.

In other Clovis Oncology news, Director Thorlef Spickschen bought 8,600 shares of the company’s stock in a transaction on Friday, August 16th. The stock was acquired at an average price of $5.67 per share, for a total transaction of $48,762.00. Following the completion of the transaction, the director now directly owns 58,176 shares of the company’s stock, valued at $329,857.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lindsey Rolfe sold 1,728 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $14.70, for a total value of $25,401.60. Following the transaction, the insider now owns 23,319 shares of the company’s stock, valued at approximately $342,789.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,452 shares of company stock valued at $36,261. 8.30% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Ropes Wealth Advisors LLC purchased a new stake in shares of Clovis Oncology during the second quarter valued at $27,000. Pearl River Capital LLC purchased a new stake in shares of Clovis Oncology during the first quarter valued at $40,000. Aperio Group LLC purchased a new stake in shares of Clovis Oncology during the second quarter valued at $48,000. Quantamental Technologies LLC purchased a new stake in shares of Clovis Oncology during the second quarter valued at $53,000. Finally, Bank of Montreal Can grew its holdings in shares of Clovis Oncology by 55.8% during the second quarter. Bank of Montreal Can now owns 9,652 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 3,457 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Clovis Oncology Company Profile

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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