Brokers Issue Forecasts for Clovis Oncology, Inc.’s FY2018 Earnings (NASDAQ:CLVS)

Clovis Oncology, Inc. (NASDAQ:CLVS) – Research analysts at Gabelli reduced their FY2018 earnings per share estimates for Clovis Oncology in a report released on Thursday. Gabelli analyst J. He now expects that the biopharmaceutical company will post earnings of ($2.60) per share for the year, down from their previous forecast of ($1.55). Gabelli has a “Buy” rating and a $125.00 price target on the stock. Gabelli also issued estimates for Clovis Oncology’s FY2019 earnings at $2.30 EPS.

Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by $0.02. The business had revenue of $14.62 million for the quarter, compared to analysts’ expectations of $13.07 million. During the same quarter in the prior year, the company earned ($2.07) EPS. Clovis Oncology’s quarterly revenue was down 32.5% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This story was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://www.com-unik.info/2017/08/19/brokers-issue-forecasts-for-clovis-oncology-inc-s-fy2018-earnings-nasdaqclvs-updated.html.

CLVS has been the topic of a number of other research reports. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $111.00 target price (up previously from $72.00) on shares of Clovis Oncology in a report on Tuesday, June 20th. Bank of America Corporation decreased their price target on shares of Clovis Oncology from $103.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, June 20th. Zacks Investment Research lowered shares of Clovis Oncology from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Janney Montgomery Scott raised shares of Clovis Oncology from a “neutral” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $79.00 price target on shares of Clovis Oncology in a report on Tuesday, June 20th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $81.59.

Shares of Clovis Oncology (NASDAQ CLVS) traded up 0.04% during mid-day trading on Monday, reaching $77.32. 607,739 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $87.51 and a 200 day moving average price of $66.24. The firm’s market cap is $3.45 billion. Clovis Oncology has a 52-week low of $14.62 and a 52-week high of $99.45.

In related news, insider Gillian C. Ivers-Read sold 3,000 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $91.56, for a total transaction of $274,680.00. Following the transaction, the insider now owns 197,583 shares of the company’s stock, valued at approximately $18,090,699.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 9,000 shares of company stock worth $602,310. 17.40% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in Clovis Oncology by 271.4% in the first quarter. FMR LLC now owns 1,816,859 shares of the biopharmaceutical company’s stock valued at $115,679,000 after buying an additional 1,327,703 shares in the last quarter. Wellington Management Group LLP raised its position in Clovis Oncology by 10,143.6% in the first quarter. Wellington Management Group LLP now owns 1,331,669 shares of the biopharmaceutical company’s stock valued at $84,788,000 after buying an additional 1,318,669 shares in the last quarter. Jennison Associates LLC raised its position in Clovis Oncology by 222.5% in the second quarter. Jennison Associates LLC now owns 1,185,177 shares of the biopharmaceutical company’s stock valued at $110,968,000 after buying an additional 817,677 shares in the last quarter. Alliancebernstein L.P. raised its position in Clovis Oncology by 1,538.0% in the first quarter. Alliancebernstein L.P. now owns 754,122 shares of the biopharmaceutical company’s stock valued at $48,015,000 after buying an additional 708,082 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Clovis Oncology by 25.3% in the first quarter. Vanguard Group Inc. now owns 3,285,195 shares of the biopharmaceutical company’s stock valued at $209,169,000 after buying an additional 662,969 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

About Clovis Oncology

Clovis Oncology, Inc is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets. The Company’s product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.

Earnings History and Estimates for Clovis Oncology (NASDAQ:CLVS)

What are top analysts saying about Clovis Oncology Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Clovis Oncology Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit