Research Analysts Offer Predictions for Clovis Oncology Inc’s Q3 2017 Earnings (NASDAQ:CLVS)
Clovis Oncology Inc (NASDAQ:CLVS) – Equities research analysts at Oppenheimer Holdings lowered their Q3 2017 EPS estimates for Clovis Oncology in a report released on Thursday. Oppenheimer Holdings analyst L. Cann now anticipates that the biopharmaceutical company will earn ($1.24) per share for the quarter, down from their previous forecast of ($1.13). Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Clovis Oncology’s Q4 2017 earnings at ($1.12) EPS, Q1 2018 earnings at ($0.85) EPS, Q2 2018 earnings at ($0.67) EPS, Q3 2018 earnings at ($0.64) EPS, Q4 2018 earnings at ($0.51) EPS, FY2018 earnings at ($2.67) EPS, FY2019 earnings at $1.51 EPS, FY2020 earnings at $2.97 EPS and FY2021 earnings at $4.36 EPS.
Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by $0.02. Clovis Oncology had a negative net margin of 1,199.63% and a negative return on equity of 271.61%. The firm had revenue of $14.62 million during the quarter, compared to analyst estimates of $13.07 million. During the same quarter in the prior year, the firm earned ($2.07) earnings per share. The business’s revenue for the quarter was down 32.5% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This piece of content was originally posted by Daily Political and is owned by of Daily Political. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/09/research-analysts-offer-predictions-for-clovis-oncology-incs-q3-2017-earnings-nasdaqclvs.html.
A number of other research analysts have also recently weighed in on CLVS. Cann restated a “hold” rating on shares of Clovis Oncology in a research report on Monday, July 31st. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Clovis Oncology in a research report on Tuesday, August 1st. Bank of America Corporation reiterated a “buy” rating on shares of Clovis Oncology in a research report on Thursday, August 3rd. BidaskClub upgraded Clovis Oncology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research cut Clovis Oncology from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $81.59.
Shares of Clovis Oncology (CLVS) opened at 75.60 on Monday. The stock’s market cap is $3.37 billion. The company has a 50-day moving average of $88.98 and a 200 day moving average of $66.52. Clovis Oncology has a one year low of $15.21 and a one year high of $99.45.
In other Clovis Oncology news, Director James C. Blair sold 18,450 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $78.61, for a total value of $1,450,354.50. Following the transaction, the director now directly owns 2,185 shares of the company’s stock, valued at approximately $171,762.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $47.39, for a total value of $142,170.00. Following the completion of the transaction, the insider now directly owns 203,583 shares in the company, valued at $9,647,798.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,450 shares of company stock worth $2,052,665. 17.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in shares of Clovis Oncology by 595.2% in the second quarter. Principal Financial Group Inc. now owns 47,385 shares of the biopharmaceutical company’s stock worth $4,436,000 after buying an additional 40,569 shares during the last quarter. Greenwood Capital Associates LLC increased its stake in shares of Clovis Oncology by 4.0% in the second quarter. Greenwood Capital Associates LLC now owns 5,485 shares of the biopharmaceutical company’s stock worth $514,000 after buying an additional 212 shares during the period. Airain ltd purchased a new stake in shares of Clovis Oncology during the second quarter worth $539,000. Prudential Financial Inc. increased its stake in shares of Clovis Oncology by 15.5% in the second quarter. Prudential Financial Inc. now owns 4,388 shares of the biopharmaceutical company’s stock worth $411,000 after buying an additional 590 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Clovis Oncology by 48.1% in the second quarter. American Century Companies Inc. now owns 61,646 shares of the biopharmaceutical company’s stock worth $5,772,000 after buying an additional 20,017 shares during the period. 90.67% of the stock is currently owned by institutional investors.
About Clovis Oncology
Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.
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