Analysts predict that Clovis Oncology (NASDAQ:CLVS) will announce $42.34 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Clovis Oncology’s earnings. The highest sales estimate is $43.71 million and the lowest is $40.86 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 business is scheduled to announce its next quarterly earnings report on Thursday, November 5th.
According to Zacks, analysts expect that Clovis Oncology will report full-year sales of $172.56 million for the current fiscal year, with estimates ranging from $170.25 million to $174.84 million. For the next fiscal year, analysts forecast that the firm will post sales of $237.59 million, with estimates ranging from $210.00 million to $264.03 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.04) by ($0.11). The company had revenue of $39.89 million for the quarter, compared to the consensus estimate of $44.65 million.
CLVS has been the topic of several research analyst reports. ValuEngine cut shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research report on Wednesday, September 16th. HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Clovis Oncology in a research report on Monday, September 21st. Finally, BidaskClub upgraded shares of Clovis Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Clovis Oncology presently has a consensus rating of “Hold” and an average price target of $9.64.
Several institutional investors have recently modified their holdings of CLVS. Vanguard Group Inc. grew its holdings in shares of Clovis Oncology by 40.1% in the second quarter. Vanguard Group Inc. now owns 6,244,924 shares of the biopharmaceutical company’s stock worth $42,153,000 after purchasing an additional 1,787,665 shares during the last quarter. Candriam Luxembourg S.C.A. grew its holdings in shares of Clovis Oncology by 29.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 1,298,450 shares of the biopharmaceutical company’s stock worth $8,765,000 after purchasing an additional 298,535 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Clovis Oncology in the second quarter worth approximately $1,730,000. Bank of America Corp DE grew its holdings in shares of Clovis Oncology by 308.5% in the second quarter. Bank of America Corp DE now owns 337,115 shares of the biopharmaceutical company’s stock worth $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% in the first quarter. BNP Paribas Arbitrage SA now owns 290,993 shares of the biopharmaceutical company’s stock worth $1,851,000 after purchasing an additional 215,983 shares during the last quarter. Hedge funds and other institutional investors own 52.80% of the company’s stock.
Shares of CLVS stock traded down $0.17 during trading on Wednesday, hitting $5.75. The company had a trading volume of 2,592,060 shares, compared to its average volume of 5,249,263. The stock’s 50-day moving average is $5.74 and its two-hundred day moving average is $6.58. The stock has a market capitalization of $507.15 million, a price-to-earnings ratio of -0.95 and a beta of 2.26. Clovis Oncology has a 52 week low of $2.93 and a 52 week high of $17.37.
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.
Further Reading: Why is the ROA ratio important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Clovis Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clovis Oncology and related companies with MarketBeat.com's FREE daily email newsletter.