Clovis Oncology (NASDAQ:CLVS) – SunTrust Banks increased their FY2019 earnings per share estimates for Clovis Oncology in a report released on Sunday, April 14th. SunTrust Banks analyst P. Lawson now forecasts that the biopharmaceutical company will post earnings of ($6.37) per share for the year, up from their prior forecast of ($6.42). SunTrust Banks currently has a “Buy” rating and a $28.00 target price on the stock. SunTrust Banks also issued estimates for Clovis Oncology’s Q4 2019 earnings at ($1.42) EPS, FY2020 earnings at ($4.91) EPS, FY2021 earnings at ($3.55) EPS and FY2022 earnings at ($1.87) EPS.
Clovis Oncology (NASDAQ:CLVS) last posted its earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.20). Clovis Oncology had a negative net margin of 385.80% and a negative return on equity of 147.39%. The business had revenue of $30.40 million for the quarter, compared to analyst estimates of $30.46 million. During the same quarter in the prior year, the firm earned ($1.04) earnings per share. The company’s revenue for the quarter was up 78.4% on a year-over-year basis.
CLVS has been the topic of several other reports. ValuEngine lowered shares of Clovis Oncology from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. BidaskClub lowered shares of Clovis Oncology from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Clovis Oncology in a report on Sunday, April 7th. Zacks Investment Research lowered shares of Clovis Oncology from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Finally, Piper Jaffray Companies reduced their target price on shares of Clovis Oncology from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Sunday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.44.
Shares of CLVS stock opened at $21.21 on Wednesday. The company has a current ratio of 4.55, a quick ratio of 4.34 and a debt-to-equity ratio of 3.93. Clovis Oncology has a one year low of $11.50 and a one year high of $55.15. The company has a market capitalization of $1.09 billion, a PE ratio of -3.00 and a beta of 2.07.
In related news, Director James C. Blair sold 17,056 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $27.79, for a total value of $473,986.24. Following the transaction, the director now owns 13,439 shares in the company, valued at $373,469.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lindsey Rolfe sold 1,731 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.29, for a total value of $50,700.99. Following the completion of the transaction, the insider now owns 16,497 shares in the company, valued at approximately $483,197.13. The disclosure for this sale can be found here. Insiders sold 20,782 shares of company stock valued at $576,755 over the last three months. 10.20% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its holdings in Clovis Oncology by 2.4% during the third quarter. Vanguard Group Inc now owns 4,445,064 shares of the biopharmaceutical company’s stock valued at $130,551,000 after purchasing an additional 104,655 shares during the last quarter. Vanguard Group Inc. grew its holdings in Clovis Oncology by 2.4% during the third quarter. Vanguard Group Inc. now owns 4,445,064 shares of the biopharmaceutical company’s stock valued at $130,551,000 after purchasing an additional 104,655 shares during the last quarter. Orbimed Advisors LLC boosted its position in shares of Clovis Oncology by 23.2% in the fourth quarter. Orbimed Advisors LLC now owns 2,752,200 shares of the biopharmaceutical company’s stock valued at $49,430,000 after acquiring an additional 517,630 shares during the period. Samlyn Capital LLC bought a new stake in shares of Clovis Oncology in the fourth quarter valued at approximately $18,054,000. Finally, Macquarie Group Ltd. boosted its position in shares of Clovis Oncology by 27.1% in the third quarter. Macquarie Group Ltd. now owns 878,530 shares of the biopharmaceutical company’s stock valued at $25,802,000 after acquiring an additional 187,071 shares during the period.
Clovis Oncology Company Profile
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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