Clovis Oncology (NASDAQ:CLVS) Issues Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Clovis Oncology (NASDAQ:CLVS) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.72) EPS for the quarter, beating the consensus estimate of ($1.89) by $0.17, Briefing.com reports. The business had revenue of $37.60 million for the quarter, compared to analysts’ expectations of $35.84 million. Clovis Oncology had a negative net margin of 332.18% and a negative return on equity of 372.68%. The firm’s revenue was up 65.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.71) EPS.

CLVS stock traded up $1.56 during midday trading on Friday, hitting $5.88. The company’s stock had a trading volume of 36,744,000 shares, compared to its average volume of 2,751,413. The company has a debt-to-equity ratio of 8.04, a current ratio of 3.57 and a quick ratio of 3.32. Clovis Oncology has a twelve month low of $2.93 and a twelve month high of $32.05. The company’s fifty day moving average price is $3.72 and its 200 day moving average price is $10.15. The stock has a market capitalization of $197.31 million, a P/E ratio of -0.83 and a beta of 1.76.

Several equities research analysts recently commented on the stock. Barclays set a $36.00 price objective on shares of Clovis Oncology and gave the company a “buy” rating in a research report on Friday, August 2nd. G.Research reaffirmed a “buy” rating on shares of Clovis Oncology in a research report on Friday, August 2nd. HC Wainwright set a $36.00 price objective on shares of Clovis Oncology and gave the company a “buy” rating in a research report on Monday, September 30th. Bank of America set a $7.00 price objective on shares of Clovis Oncology and gave the company a “hold” rating in a research report on Friday, September 27th. Finally, ValuEngine cut shares of Clovis Oncology from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $20.75.

In other Clovis Oncology news, insider Patrick J. Mahaffy purchased 50,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $5.59 per share, for a total transaction of $279,500.00. Following the transaction, the insider now owns 919,187 shares in the company, valued at approximately $5,138,255.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thorlef Spickschen purchased 9,200 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $5.46 per share, with a total value of $50,232.00. Following the completion of the transaction, the director now owns 49,576 shares in the company, valued at approximately $270,684.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 107,800 shares of company stock valued at $612,094 and sold 1,706 shares valued at $8,755. Corporate insiders own 8.30% of the company’s stock.

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.

Featured Story: The components of the Stochastic Momentum Index

Earnings History for Clovis Oncology (NASDAQ:CLVS)

Receive News & Ratings for Clovis Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clovis Oncology and related companies with MarketBeat.com's FREE daily email newsletter.