Clovis Oncology (NASDAQ:CLVS) Expected to Post Earnings of -$1.01 Per Share

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Brokerages predict that Clovis Oncology (NASDAQ:CLVS) will post ($1.01) earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Clovis Oncology’s earnings, with the highest EPS estimate coming in at ($0.88) and the lowest estimate coming in at ($1.11). Clovis Oncology posted earnings of ($1.89) per share during the same quarter last year, which would indicate a positive year over year growth rate of 46.6%. The firm is scheduled to issue 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 financial year, with EPS estimates ranging from ($4.69) to ($4.18). For the next year, analysts forecast that the company will post earnings of ($2.54) per share, with EPS estimates ranging from ($3.36) to ($1.59). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.11). The business had revenue of $39.89 million during the quarter, compared to analysts’ expectations of $44.65 million.

A number of equities research analysts have weighed in on the company. HC Wainwright restated a “buy” rating and issued a $23.00 target price on shares of Clovis Oncology in a research report on Monday, September 21st. BidaskClub raised Clovis Oncology from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Finally, ValuEngine cut Clovis Oncology from a “buy” rating to a “hold” rating in a report on Wednesday, September 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Clovis Oncology presently has an average rating of “Hold” and a consensus target price of $9.64.

A number of large investors have recently made changes to their positions in CLVS. Aperio Group LLC acquired a new stake in Clovis Oncology during the 1st quarter valued at $110,000. Bank of New York Mellon Corp raised its stake in Clovis Oncology by 42.9% during the 1st quarter. Bank of New York Mellon Corp now owns 283,142 shares of the biopharmaceutical company’s stock valued at $1,800,000 after purchasing an additional 84,946 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Clovis Oncology during the 1st quarter valued at $72,000. Pinnacle Associates Ltd. raised its stake in Clovis Oncology by 33.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 841,359 shares of the biopharmaceutical company’s stock valued at $5,351,000 after purchasing an additional 212,999 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in 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 period. 52.80% of the stock is currently owned by institutional investors.

CLVS traded down $0.17 during trading on Monday, reaching $5.75. The stock had a trading volume of 2,592,060 shares, compared to its average volume of 5,249,263. The firm 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 1-year low of $2.93 and a 1-year high of $17.37. The stock has a 50 day moving average of $5.74 and a two-hundred day moving average of $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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