Analysts Expect Clovis Oncology (NASDAQ:CLVS) Will Announce Earnings of -$0.43 Per Share

Analysts forecast that Clovis Oncology (NASDAQ:CLVSGet Rating) will announce earnings of ($0.43) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Clovis Oncology’s earnings, with the highest EPS estimate coming in at ($0.31) and the lowest estimate coming in at ($0.56). Clovis Oncology posted earnings of ($0.64) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 32.8%. The business is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Clovis Oncology will report full-year earnings of ($1.59) per share for the current financial year, with EPS estimates ranging from ($2.08) to ($1.16). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.90) per share, with EPS estimates ranging from ($1.10) to ($0.72). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Clovis Oncology.

Clovis Oncology (NASDAQ:CLVSGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The biopharmaceutical company reported ($0.49) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.11. The firm had revenue of $35.97 million during the quarter, compared to analysts’ expectations of $39.30 million. During the same quarter last year, the company posted ($0.74) EPS.

A number of analysts have weighed in on CLVS shares. StockNews.com assumed coverage on shares of Clovis Oncology in a report on Thursday, March 31st. They issued a “hold” rating for the company. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Clovis Oncology in a research report on Thursday, February 24th.

A number of institutional investors and hedge funds have recently modified their holdings of CLVS. State Street Corp increased its holdings in shares of Clovis Oncology by 9.8% in the fourth quarter. State Street Corp now owns 16,114,542 shares of the biopharmaceutical company’s stock valued at $43,670,000 after purchasing an additional 1,439,788 shares during the last quarter. UBS Group AG increased its holdings in shares of Clovis Oncology by 213.9% in the third quarter. UBS Group AG now owns 947,503 shares of the biopharmaceutical company’s stock valued at $4,226,000 after purchasing an additional 645,662 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Clovis Oncology by 86.6% in the fourth quarter. Rafferty Asset Management LLC now owns 1,333,278 shares of the biopharmaceutical company’s stock valued at $3,613,000 after purchasing an additional 618,590 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Clovis Oncology by 423.1% in the fourth quarter. Renaissance Technologies LLC now owns 610,400 shares of the biopharmaceutical company’s stock valued at $1,654,000 after purchasing an additional 493,700 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Clovis Oncology by 84.3% in the fourth quarter. Millennium Management LLC now owns 1,076,540 shares of the biopharmaceutical company’s stock valued at $2,917,000 after purchasing an additional 492,367 shares during the last quarter. Institutional investors and hedge funds own 48.81% of the company’s stock.

Shares of CLVS opened at $2.28 on Wednesday. The company’s fifty day moving average is $1.90 and its 200-day moving average is $2.83. Clovis Oncology has a 12 month low of $1.35 and a 12 month high of $7.24.

Clovis Oncology Company Profile (Get Rating)

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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