Clovis Oncology (NASDAQ:CLVS) Expected to Announce Quarterly Sales of $37.26 Million

Analysts forecast that Clovis Oncology (NASDAQ:CLVSGet Rating) will announce sales of $37.26 million for the current fiscal quarter, Zacks reports. Two analysts have issued 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 during the same quarter last year, which would indicate a positive year over year growth rate of 1.2%. The business is expected to announce its next quarterly earnings results 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 year, analysts anticipate that the firm will report sales of $198.63 million, with estimates ranging from $151.56 million to $245.69 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Clovis Oncology.

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

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

CLVS 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 capitalization of $97.00 million, a price-to-earnings ratio of -0.32 and a beta of 1.58. The business has a 50 day simple moving average of $1.71 and a two-hundred day simple moving average of $2.23.

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. bought a new position in Clovis Oncology during the first quarter valued at $27,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Clovis Oncology during the 4th quarter valued at about $28,000. Sigma Planning Corp purchased a new stake in shares of Clovis Oncology during the 4th quarter valued at about $36,000. Mirabella Financial Services LLP purchased a new stake in shares of Clovis Oncology during the 1st quarter valued at about $36,000. Finally, Sassicaia Capital Advisers LLC purchased a new stake in shares of Clovis Oncology during the 1st quarter valued at about $40,000. Institutional investors own 36.64% of the company’s stock.

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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