Equities analysts forecast that Clovis Oncology (NASDAQ:CLVS) will post sales of $42.34 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Clovis Oncology’s earnings, with the lowest sales estimate coming in at $40.86 million and the highest estimate coming in at $43.71 million. Clovis Oncology posted sales of $37.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.6%. The firm is scheduled to issue its next earnings results on Thursday, November 5th.
According to Zacks, analysts expect that Clovis Oncology will report full-year sales of $172.56 million for the current year, with estimates ranging from $170.25 million to $174.84 million. For the next financial year, analysts forecast that the business will report sales of $237.59 million, with estimates ranging from $210.00 million to $264.03 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last released its quarterly 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 business had revenue of $39.89 million for the quarter, compared to analysts’ expectations of $44.65 million.
A number of equities analysts have commented on the stock. BidaskClub upgraded shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. HC Wainwright restated a “buy” rating and issued a $23.00 price target on shares of Clovis Oncology in a research report on Monday, September 21st. Finally, ValuEngine lowered shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $9.64.
NASDAQ:CLVS traded down $0.17 on Wednesday, reaching $5.75. The stock had a trading volume of 2,592,060 shares, compared to its average volume of 5,249,263. The company has a market capitalization of $507.15 million, a P/E ratio of -0.95 and a beta of 2.26. Clovis Oncology has a 1-year low of $2.93 and a 1-year high of $17.37. The stock has a fifty day moving average price of $5.74 and a 200-day moving average price of $6.58.
A number of institutional investors have recently added to or reduced their stakes in CLVS. Vanguard Group Inc. lifted its stake in shares of Clovis Oncology by 40.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,244,924 shares of the biopharmaceutical company’s stock worth $42,153,000 after buying an additional 1,787,665 shares during the last quarter. Candriam Luxembourg S.C.A. increased its holdings in Clovis Oncology by 29.9% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 1,298,450 shares of the biopharmaceutical company’s stock valued at $8,765,000 after buying an additional 298,535 shares during the period. Principal Financial Group Inc. bought a new position in Clovis Oncology in the 2nd quarter valued at about $1,730,000. Bank of America Corp DE grew its holdings in shares of Clovis Oncology by 308.5% during the 2nd quarter. Bank of America Corp DE now owns 337,115 shares of the biopharmaceutical company’s stock valued at $2,275,000 after purchasing an additional 254,597 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Clovis Oncology by 287.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 290,993 shares of the biopharmaceutical company’s stock valued at $1,851,000 after purchasing an additional 215,983 shares during the last quarter. 52.80% of the stock is owned by institutional investors and hedge funds.
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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