Clovis Oncology Inc (CLVS) to Post Q3 2017 Earnings of ($1.11) Per Share, Leerink Swann Forecasts
Clovis Oncology Inc (NASDAQ:CLVS) – Equities research analysts at Leerink Swann raised their Q3 2017 earnings estimates for shares of Clovis Oncology in a research note issued on Thursday. Leerink Swann analyst M. Schmidt now forecasts that the biopharmaceutical company will post earnings of ($1.11) per share for the quarter, up from their previous estimate of ($1.16). Leerink Swann has a “Outperform” rating and a $114.00 price objective on the stock. Leerink Swann also issued estimates for Clovis Oncology’s Q4 2017 earnings at ($1.04) EPS, FY2018 earnings at ($3.23) EPS, FY2019 earnings at ($1.39) EPS, FY2020 earnings at $1.22 EPS and FY2021 earnings at $4.23 EPS.
CLVS has been the subject of a number of other research reports. J P Morgan Chase & Co reissued an “overweight” rating and issued a $111.00 price objective (up previously from $72.00) on shares of Clovis Oncology in a report on Tuesday, June 20th. Bank of America Corporation dropped their price objective on shares of Clovis Oncology from $103.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, June 20th. Zacks Investment Research lowered shares of Clovis Oncology from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Janney Montgomery Scott raised shares of Clovis Oncology from a “neutral” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $79.00 price objective on shares of Clovis Oncology in a report on Tuesday, June 20th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $81.59.
Shares of Clovis Oncology (NASDAQ CLVS) opened at 75.60 on Monday. The stock has a 50 day moving average of $88.98 and a 200 day moving average of $66.52. The company’s market cap is $3.37 billion. Clovis Oncology has a 12-month low of $15.21 and a 12-month high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last released its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.27) by $0.02. The firm had revenue of $14.62 million during the quarter, compared to the consensus estimate of $13.07 million. Clovis Oncology had a negative return on equity of 271.61% and a negative net margin of 1,199.63%. Clovis Oncology’s revenue was down 32.5% compared to the same quarter last year. During the same quarter last year, the business posted ($2.07) EPS.
A number of institutional investors have recently made changes to their positions in CLVS. First Mercantile Trust Co. bought a new position in shares of Clovis Oncology during the first quarter valued at approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Clovis Oncology by 71.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,819 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 758 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Clovis Oncology by 160.7% in the second quarter. Advisors Asset Management Inc. now owns 1,895 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 1,168 shares during the period. Legato Capital Management LLC acquired a new position in shares of Clovis Oncology during the second quarter worth about $220,000. Finally, Bank of Montreal Can raised its position in shares of Clovis Oncology by 284.9% in the second quarter. Bank of Montreal Can now owns 2,702 shares of the biopharmaceutical company’s stock worth $253,000 after buying an additional 2,000 shares during the period. Institutional investors own 90.67% of the company’s stock.
In other Clovis Oncology news, Director James C. Blair sold 18,450 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were 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 in the company, valued at $171,762.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $47.39, for a total transaction of $142,170.00. Following the completion of the transaction, the insider now owns 203,583 shares in the company, valued at $9,647,798.37. The disclosure for this sale can be found here. Insiders sold 27,450 shares of company stock worth $2,052,665 over the last quarter. 17.40% of the stock is currently owned by insiders.
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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