$37.26 Million in Sales Expected for Clovis Oncology (NASDAQ:CLVS) This Quarter

Equities analysts expect that Clovis Oncology (NASDAQ:CLVS – Get Rating) will announce sales of $37.26 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Clovis Oncology’s earnings, with the highest sales estimate coming in at $39.43 million and the lowest estimate coming in at $35.08 million. Clovis Oncology posted sales of $36.82 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.2%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Clovis Oncology will report full year sales of $153.57 million for the current financial year, with estimates ranging from $146.18 million to $160.95 million. For the next fiscal year, analysts expect that the firm will report sales of $198.63 million, with estimates ranging from $151.56 million to $245.69 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Clovis Oncology.

Clovis Oncology (NASDAQ:CLVS – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The company had revenue of $34.25 million during the quarter, compared to analysts’ expectations of $37.03 million. During the same quarter in the previous year, the business posted ($0.64) EPS.

Several brokerages recently commented on CLVS. HC Wainwright cut shares of Clovis Oncology from a “buy” rating to a “neutral” rating in a research note on Friday, May 6th. StockNews.com initiated coverage on Clovis Oncology in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research downgraded Clovis Oncology from a “buy” rating to a “hold” rating and set a $1.00 price objective for the company. in a research note on Wednesday, May 11th.

Clovis Oncology stock opened at $0.67 on Friday. Clovis Oncology has a 1-year low of $0.61 and a 1-year high of $7.24. The company has a market cap of $97.00 million, a PE ratio of -0.32 and a beta of 1.58. The stock’s 50 day moving average price is $1.71 and its 200 day moving average price is $2.23.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in Clovis Oncology by 67.1% during the 3rd quarter. Alliancebernstein L.P. now owns 365,800 shares of the biopharmaceutical company’s stock valued at $1,631,000 after buying an additional 146,900 shares during the last quarter. UBS Group AG raised its stake 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 last quarter. Geode Capital Management LLC lifted its holdings in Clovis Oncology by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,020,571 shares of the biopharmaceutical company’s stock valued at $9,011,000 after purchasing an additional 173,838 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Clovis Oncology by 86.6% during the 4th quarter. Rafferty Asset Management LLC now owns 1,333,278 shares of the biopharmaceutical company’s stock worth $3,613,000 after purchasing an additional 618,590 shares during the last quarter. Finally, Hollencrest Capital Management grew its holdings in shares of Clovis Oncology by 200.0% during the fourth quarter. Hollencrest Capital Management now owns 120,000 shares of the biopharmaceutical company’s stock worth $325,000 after buying an additional 80,000 shares in the last quarter. 36.64% of the stock is currently 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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