Analysts Expect Clovis Oncology (NASDAQ:CLVS) Will Post Quarterly Sales of $36.31 Million
Wall Street brokerages expect Clovis Oncology (NASDAQ:CLVS) to announce $36.31 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Clovis Oncology’s earnings. The highest sales estimate is $39.00 million and the lowest is $34.30 million. Clovis Oncology reported sales of $22.76 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 59.5%. The company is expected to issue its next quarterly earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that Clovis Oncology will report full year sales of $141.46 million for the current fiscal year, with estimates ranging from $137.23 million to $147.89 million. For the next fiscal year, analysts expect that the business will post sales of $214.29 million, with estimates ranging from $193.84 million to $246.93 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Clovis Oncology.
Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($2.27) earnings per share for the quarter, missing the consensus estimate of ($1.70) by ($0.57). The company had revenue of $32.98 million during the quarter, compared to the consensus estimate of $34.92 million. Clovis Oncology had a negative return on equity of 372.68% and a negative net margin of 332.18%. The business’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter last year, the firm earned ($1.94) EPS.
In related news, Director Thorlef Spickschen purchased 9,200 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $5.46 per share, with a total value of $50,232.00. Following the purchase, the director now directly owns 49,576 shares of the company’s stock, valued at $270,684.96. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lindsey Rolfe sold 1,728 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $14.70, for a total value of $25,401.60. Following the completion of the sale, the insider now owns 23,319 shares of the company’s stock, valued at approximately $342,789.30. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 107,800 shares of company stock worth $612,094 and have sold 2,597 shares worth $30,139. 8.30% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new stake in Clovis Oncology during the 1st quarter valued at $40,000. Comerica Bank acquired a new stake in shares of Clovis Oncology in the first quarter valued at approximately $740,000. Gabelli Funds LLC lifted its position in Clovis Oncology by 200.0% during the first quarter. Gabelli Funds LLC now owns 44,700 shares of the biopharmaceutical company’s stock worth $1,109,000 after buying an additional 29,800 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in Clovis Oncology during the first quarter worth $1,358,000. Finally, Signition LP purchased a new stake in Clovis Oncology in the 1st quarter valued at $210,000. 91.69% of the stock is owned by hedge funds and other institutional investors.
CLVS stock traded up $0.03 during mid-day trading on Friday, hitting $6.03. 4,579,700 shares of the company were exchanged, compared to its average volume of 2,235,433. The company has a debt-to-equity ratio of 8.04, a quick ratio of 3.32 and a current ratio of 3.57. Clovis Oncology has a 1-year low of $4.98 and a 1-year high of $34.63. The firm’s 50 day simple moving average is $7.08 and its 200 day simple moving average is $16.43. The firm has a market cap of $319.76 million, a P/E ratio of -0.85 and a beta of 1.91.
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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