Wall Street analysts forecast that Array BioPharma Inc. (NASDAQ:ARRY) will post earnings of ($0.23) per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Array BioPharma’s earnings, with the lowest EPS estimate coming in at ($0.33) and the highest estimate coming in at ($0.16). Array BioPharma posted earnings of ($0.14) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 64.3%. The firm is expected to announce its next quarterly earnings results on Thursday, February 8th.
On average, analysts expect that Array BioPharma will report full-year earnings of ($0.99) per share for the current fiscal year, with EPS estimates ranging from ($1.27) to ($0.71). For the next financial year, analysts forecast that the firm will post earnings of ($0.58) per share, with EPS estimates ranging from ($1.52) to $0.44. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Array BioPharma.
Array BioPharma (NASDAQ:ARRY) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.22). Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The firm had revenue of $29.75 million during the quarter, compared to the consensus estimate of $33.74 million. During the same period last year, the firm posted ($0.20) EPS. The firm’s revenue for the quarter was down 24.2% on a year-over-year basis.
Several research firms have weighed in on ARRY. Piper Jaffray Companies restated a “buy” rating and set a $14.00 target price on shares of Array BioPharma in a report on Thursday, August 10th. Cantor Fitzgerald set a $13.00 target price on shares of Array BioPharma and gave the company a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Stifel Nicolaus restated a “buy” rating and set a $13.00 target price on shares of Array BioPharma in a report on Thursday, August 10th. Finally, BidaskClub downgraded shares of Array BioPharma from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $13.65.
In other Array BioPharma news, Director Kyle Lefkoff sold 38,865 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $12.31, for a total transaction of $478,428.15. Following the sale, the director now directly owns 51,585 shares of the company’s stock, valued at approximately $635,011.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.18% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its position in shares of Array BioPharma by 8.3% in the second quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 972 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Array BioPharma by 7.2% in the second quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 1,012 shares during the last quarter. Amalgamated Bank boosted its position in shares of Array BioPharma by 5.6% in the second quarter. Amalgamated Bank now owns 22,141 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 1,174 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Array BioPharma by 9.1% in the second quarter. Prudential Financial Inc. now owns 18,957 shares of the biopharmaceutical company’s stock worth $159,000 after acquiring an additional 1,580 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Array BioPharma by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 132,865 shares of the biopharmaceutical company’s stock worth $1,112,000 after acquiring an additional 4,287 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.
Array BioPharma (ARRY) opened at $11.15 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 5.43. Array BioPharma has a twelve month low of $6.73 and a twelve month high of $13.40.
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About Array BioPharma
Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib (partnered with AstraZeneca, PLC).
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