Q4 2017 EPS Estimates for Clovis Oncology, Inc. Cut by Analyst (NASDAQ:CLVS)

Clovis Oncology, Inc. (NASDAQ:CLVS) – Oppenheimer Holdings cut their Q4 2017 earnings per share (EPS) estimates for Clovis Oncology in a report issued on Wednesday, Zacks Investment Research reports. Oppenheimer Holdings analyst L. Cann now forecasts that the biopharmaceutical company will post earnings of ($1.23) per share for the quarter, down from their prior estimate of ($1.12). Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Clovis Oncology’s Q1 2018 earnings at ($1.16) EPS, Q2 2018 earnings at ($0.68) EPS, Q3 2018 earnings at ($0.46) EPS, Q4 2018 earnings at ($0.17) EPS, FY2018 earnings at ($2.46) EPS, FY2019 earnings at $1.46 EPS, FY2020 earnings at $2.82 EPS and FY2021 earnings at $4.11 EPS.

Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.06). Clovis Oncology had a negative return on equity of 122.06% and a negative net margin of 947.47%. The firm had revenue of $16.81 million for the quarter, compared to analyst estimates of $21.12 million. During the same quarter in the prior year, the business posted ($1.70) EPS.

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Other research analysts have also recently issued reports about the stock. Cann reiterated a “hold” rating on shares of Clovis Oncology in a research note on Monday, July 31st. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Clovis Oncology in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, October 17th. Vetr upgraded shares of Clovis Oncology from a “hold” rating to a “buy” rating and set a $87.50 target price on the stock in a research note on Wednesday, July 19th. Finally, Bank of America Corporation reissued a “buy” rating on shares of Clovis Oncology in a research report on Thursday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $86.15.

Clovis Oncology (NASDAQ CLVS) traded down $0.93 on Monday, reaching $64.56. 1,120,300 shares of the company’s stock traded hands, compared to its average volume of 1,864,114. Clovis Oncology has a 12-month low of $33.23 and a 12-month high of $99.45. The company has a quick ratio of 3.16, a current ratio of 3.19 and a debt-to-equity ratio of 0.94.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Clovis Oncology by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,618,843 shares of the biopharmaceutical company’s stock worth $338,831,000 after buying an additional 333,648 shares in the last quarter. Orbimed Advisors LLC grew its stake in Clovis Oncology by 13.5% in the 3rd quarter. Orbimed Advisors LLC now owns 2,388,670 shares of the biopharmaceutical company’s stock worth $196,826,000 after buying an additional 284,300 shares in the last quarter. State Street Corp grew its stake in Clovis Oncology by 4.3% in the 2nd quarter. State Street Corp now owns 1,943,480 shares of the biopharmaceutical company’s stock worth $181,966,000 after buying an additional 80,171 shares in the last quarter. Franklin Resources Inc. grew its stake in Clovis Oncology by 70.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,665,200 shares of the biopharmaceutical company’s stock worth $155,913,000 after buying an additional 687,300 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Clovis Oncology by 222.5% in the 2nd quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock worth $110,968,000 after buying an additional 817,677 shares in the last quarter. 98.53% of the stock is owned by institutional investors and hedge funds.

In other Clovis Oncology news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $84.54, for a total value of $253,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.50% of the stock is owned by insiders.

Clovis Oncology Company Profile

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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Earnings History and Estimates for Clovis Oncology (NASDAQ:CLVS)

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