Clovis Oncology (NASDAQ:CLVS) Posts Earnings Results, Misses Expectations By $0.57 EPS

Clovis Oncology (NASDAQ:CLVS) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($2.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.70) by ($0.57), Briefing.com reports. The company had revenue of $32.98 million during the quarter, compared to the consensus estimate of $34.92 million. Clovis Oncology had a negative return on equity of 196.39% and a negative net margin of 342.54%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.94) EPS. Clovis Oncology updated its FY 2019 guidance to EPS.

CLVS stock traded up $0.39 during trading on Friday, hitting $9.26. 3,083,306 shares of the company’s stock traded hands, compared to its average volume of 1,753,509. The company has a quick ratio of 4.15, a current ratio of 4.39 and a debt-to-equity ratio of 8.04. Clovis Oncology has a 52 week low of $8.35 and a 52 week high of $41.75. The firm’s fifty day moving average price is $12.90. The stock has a market cap of $559.20 million, a PE ratio of -1.31 and a beta of 1.86.

CLVS has been the subject of a number of research analyst reports. Credit Suisse Group restated a “buy” rating and issued a $29.00 price target on shares of Clovis Oncology in a research note on Wednesday, May 15th. SunTrust Banks dropped their price target on shares of Clovis Oncology to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Zacks Investment Research lowered shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Guggenheim lowered shares of Clovis Oncology from a “buy” rating to a “neutral” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. restated a “hold” rating and issued a $27.00 price target on shares of Clovis Oncology in a research note on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $27.44.

In other Clovis Oncology news, insider Lindsey Rolfe sold 1,728 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $14.70, for a total transaction of $25,401.60. Following the completion of the sale, the insider now owns 23,319 shares in the company, valued at $342,789.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 2,452 shares of company stock valued at $36,261. 8.30% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can boosted its position in shares of Clovis Oncology by 54.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 7,034 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 2,489 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of Clovis Oncology during the fourth quarter valued at approximately $5,641,000. Geode Capital Management LLC boosted its position in shares of Clovis Oncology by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 572,004 shares of the biopharmaceutical company’s stock valued at $10,273,000 after buying an additional 39,369 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Clovis Oncology by 356.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 15,513 shares of the biopharmaceutical company’s stock valued at $279,000 after buying an additional 12,116 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Clovis Oncology by 29.9% during the fourth quarter. Legal & General Group Plc now owns 20,457 shares of the biopharmaceutical company’s stock valued at $368,000 after buying an additional 4,711 shares during the period. Hedge funds and other institutional investors own 93.19% of the company’s stock.

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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Earnings History for Clovis Oncology (NASDAQ:CLVS)

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