Brokerages Expect Clovis Oncology (NASDAQ:CLVS) to Announce -$0.41 Earnings Per Share

Analysts predict that Clovis Oncology (NASDAQ:CLVS – Get Rating) will announce ($0.41) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Clovis Oncology’s earnings. The lowest EPS estimate is ($0.43) and the highest is ($0.38). Clovis Oncology posted earnings per share of ($0.61) in the same quarter last year, which indicates a positive year over year growth rate of 32.8%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Clovis Oncology will report full year earnings of ($1.66) per share for the current financial year, with EPS estimates ranging from ($1.69) to ($1.64). For the next financial year, analysts forecast that the firm will post earnings of ($0.83) per share, with EPS estimates ranging from ($1.02) to ($0.67). Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.01). During the same period in the prior year, the company earned ($0.64) EPS.

A number of research firms have recently issued reports on CLVS. Zacks Investment Research cut shares of Clovis Oncology from a “buy” rating to a “hold” rating and set a $1.00 target price for the company. in a research note on Wednesday, May 11th. HC Wainwright lowered shares of Clovis Oncology from a “buy” rating to a “neutral” rating in a report on Friday, May 6th. Finally, StockNews.com initiated coverage on shares of Clovis Oncology in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

Shares of CLVS opened at $0.63 on Wednesday. Clovis Oncology has a 12 month low of $0.61 and a 12 month high of $7.24. The firm has a fifty day simple moving average of $1.74 and a 200 day simple moving average of $2.27. The stock has a market capitalization of $90.66 million, a price-to-earnings ratio of -0.30 and a beta of 1.58.

Several institutional investors have recently added to or reduced their stakes in CLVS. Vanguard Group Inc. grew its position in shares of Clovis Oncology by 22.1% during the 1st quarter. Vanguard Group Inc. now owns 12,348,898 shares of the biopharmaceutical company’s stock valued at $24,945,000 after acquiring an additional 2,233,797 shares during the period. State Street Corp boosted its holdings in Clovis Oncology by 9.8% in the 4th 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 period. Renaissance Technologies LLC boosted its holdings in Clovis Oncology by 139.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,459,900 shares of the biopharmaceutical company’s stock valued at $2,949,000 after purchasing an additional 849,500 shares during the period. UBS Group AG boosted its holdings in Clovis Oncology by 213.9% in the 3rd 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 period. Finally, Rafferty Asset Management LLC boosted its holdings in Clovis Oncology by 86.6% in the 4th 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 period. 36.64% of the stock is owned by hedge funds and other institutional investors.

About Clovis Oncology (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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