Equities analysts forecast that Clovis Oncology (NASDAQ:CLVS) will announce ($1.01) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Clovis Oncology’s earnings, with the lowest EPS estimate coming in at ($1.11) and the highest estimate coming in at ($0.88). Clovis Oncology posted earnings of ($1.89) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 46.6%. The business is scheduled to report its next quarterly earnings results on Thursday, November 5th.
On average, analysts expect that Clovis Oncology will report full year earnings of ($4.38) per share for the current fiscal year, with EPS estimates ranging from ($4.69) to ($4.18). For the next fiscal year, analysts forecast that the business will report earnings of ($2.54) per share, with EPS estimates ranging from ($3.36) to ($1.59). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.04) by ($0.11). The firm had revenue of $39.89 million for the quarter, compared to analysts’ expectations of $44.65 million.
A number of brokerages have recently commented on CLVS. ValuEngine cut shares of Clovis Oncology from a “buy” rating to a “hold” rating in a report on Wednesday, September 16th. HC Wainwright restated a “buy” rating and set a $23.00 target price on shares of Clovis Oncology in a report on Monday, September 21st. Finally, BidaskClub upgraded shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.64.
A number of institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its position in Clovis Oncology by 61.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,387 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,420 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Clovis Oncology by 7.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 34,966 shares of the biopharmaceutical company’s stock worth $222,000 after buying an additional 2,566 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Clovis Oncology by 1.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 311,600 shares of the biopharmaceutical company’s stock worth $1,982,000 after buying an additional 3,970 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Clovis Oncology in the 2nd quarter worth about $32,000. Finally, Nuveen Asset Management LLC raised its position in Clovis Oncology by 1.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 352,732 shares of the biopharmaceutical company’s stock worth $20,815,000 after buying an additional 4,824 shares during the last quarter. Institutional investors own 52.80% of the company’s stock.
Shares of CLVS stock traded down $0.17 during mid-day trading on Monday, reaching $5.75. 2,592,060 shares of the company’s stock traded hands, compared to its average volume of 5,249,263. Clovis Oncology has a 12 month low of $2.93 and a 12 month high of $17.37. The company has a market cap of $507.15 million, a P/E ratio of -0.95 and a beta of 2.26. The company’s 50-day moving average price is $5.74 and its 200-day moving average price is $6.58.
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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