Gabelli Weighs in on Clovis Oncology’s FY2018 Earnings (CLVS)

Clovis Oncology (NASDAQ:CLVS) – Research analysts at Gabelli lowered their FY2018 EPS estimates for Clovis Oncology in a report released on Monday, November 19th. Gabelli analyst J. He now expects that the biopharmaceutical company will post earnings per share of ($6.50) for the year, down from their previous forecast of ($6.30). Gabelli also issued estimates for Clovis Oncology’s FY2019 earnings at ($5.05) EPS, FY2020 earnings at ($3.95) EPS, FY2021 earnings at ($2.95) EPS and FY2022 earnings at ($2.60) EPS.

CLVS has been the topic of several other reports. Cann reissued a “hold” rating on shares of Clovis Oncology in a research report on Friday, October 19th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Clovis Oncology in a research report on Sunday, October 21st. Piper Jaffray Companies started coverage on Clovis Oncology in a research report on Thursday, October 18th. They set a “hold” rating and a $33.00 price target on the stock. BidaskClub raised Clovis Oncology from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, Guggenheim started coverage on Clovis Oncology in a research report on Monday, September 17th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.32.

CLVS stock opened at $17.49 on Thursday. The company has a current ratio of 9.03, a quick ratio of 8.46 and a debt-to-equity ratio of 2.46. The company has a market cap of $915.60 million, a P/E ratio of -3.42 and a beta of 2.07. Clovis Oncology has a 12-month low of $11.50 and a 12-month high of $69.02.

Clovis Oncology (NASDAQ:CLVS) last posted its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.60) by ($0.11). The firm had revenue of $22.76 million for the quarter, compared to analyst estimates of $30.11 million. Clovis Oncology had a negative net margin of 390.65% and a negative return on equity of 108.92%. The business’s revenue was up 35.4% on a year-over-year basis. During the same period in the prior year, the company posted ($1.24) earnings per share.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank increased its position in Clovis Oncology by 23.9% in the second quarter. Amalgamated Bank now owns 7,283 shares of the biopharmaceutical company’s stock worth $331,000 after buying an additional 1,406 shares during the period. Greenwood Capital Associates LLC grew its stake in shares of Clovis Oncology by 25.3% in the second quarter. Greenwood Capital Associates LLC now owns 6,981 shares of the biopharmaceutical company’s stock worth $317,000 after purchasing an additional 1,408 shares in the last quarter. Morse Asset Management Inc grew its stake in shares of Clovis Oncology by 14.0% in the second quarter. Morse Asset Management Inc now owns 13,400 shares of the biopharmaceutical company’s stock worth $609,000 after purchasing an additional 1,650 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Clovis Oncology by 8.7% in the second quarter. MetLife Investment Advisors LLC now owns 21,967 shares of the biopharmaceutical company’s stock worth $999,000 after purchasing an additional 1,764 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan grew its stake in shares of Clovis Oncology by 18.2% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 13,000 shares of the biopharmaceutical company’s stock worth $591,000 after purchasing an additional 2,000 shares in the last quarter.

About Clovis Oncology

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

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