Gabelli Brokers Boost Earnings Estimates for Clovis Oncology, Inc. (CLVS)
Clovis Oncology, Inc. (NASDAQ:CLVS) – Gabelli increased their FY2017 EPS estimates for shares of Clovis Oncology in a report issued on Thursday. Gabelli analyst J. He now anticipates that the biopharmaceutical company will earn ($7.65) per share for the year, up from their previous forecast of ($7.80). Gabelli also issued estimates for Clovis Oncology’s FY2018 earnings at ($2.70) EPS, FY2019 earnings at $1.15 EPS, FY2020 earnings at $4.95 EPS and FY2021 earnings at $7.90 EPS.
Several other analysts also recently commented on the company. Credit Suisse Group set a $107.00 target price on Clovis Oncology and gave the company a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded Clovis Oncology from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Wednesday, July 12th. Barclays PLC started coverage on Clovis Oncology in a research note on Monday, October 23rd. They issued an “overweight” rating and a $105.00 target price for the company. Royal Bank Of Canada started coverage on Clovis Oncology in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $81.00 target price for the company. Finally, Cann restated a “hold” rating on shares of Clovis Oncology in a research note on Monday, September 11th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $87.15.
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Shares of Clovis Oncology (CLVS) opened at $73.59 on Monday. The company has a current ratio of 3.19, a quick ratio of 3.16 and a debt-to-equity ratio of 0.94. Clovis Oncology has a 12 month low of $25.81 and a 12 month high of $99.45.
Clovis Oncology (NASDAQ:CLVS) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($1.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.06). The firm had revenue of $16.81 million during the quarter, compared to analyst estimates of $21.12 million. Clovis Oncology had a negative net margin of 947.47% and a negative return on equity of 122.06%. During the same quarter in the prior year, the business earned ($1.70) earnings per share.
Several large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in shares of Clovis Oncology by 0.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the biopharmaceutical company’s stock worth $265,000 after purchasing an additional 20 shares during the period. Hanseatic Management Services Inc. raised its holdings in shares of Clovis Oncology by 0.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 13,693 shares of the biopharmaceutical company’s stock worth $1,282,000 after purchasing an additional 37 shares during the period. Aperio Group LLC raised its holdings in shares of Clovis Oncology by 1.7% in the 2nd quarter. Aperio Group LLC now owns 5,093 shares of the biopharmaceutical company’s stock worth $477,000 after purchasing an additional 83 shares during the period. Greenwood Capital Associates LLC raised its holdings in shares of Clovis Oncology by 4.0% in the 2nd quarter. Greenwood Capital Associates LLC now owns 5,485 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 212 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Clovis Oncology by 10.4% in the 2nd quarter. Amalgamated Bank now owns 4,811 shares of the biopharmaceutical company’s stock worth $450,000 after purchasing an additional 454 shares during the period.
In other news, insider Gillian C. Ivers-Read sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $69.50, for a total value of $208,500.00. Following the transaction, the insider now owns 191,583 shares in the company, valued at approximately $13,315,018.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 9,000 shares of company stock worth $672,270 in the last 90 days. Company insiders own 12.50% of the company’s stock.
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.
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