Equities research analysts predict that Array Biopharma Inc (NASDAQ:ARRY) will announce ($0.22) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Array Biopharma’s earnings. The lowest EPS estimate is ($0.27) and the highest is ($0.16). Array Biopharma reported earnings of ($0.21) per share in the same quarter last year, which suggests a negative year over year growth rate of 4.8%. The business is expected to report its next earnings results on Wednesday, May 9th.
On average, analysts expect that Array Biopharma will report full-year earnings of ($0.88) per share for the current year, with EPS estimates ranging from ($1.13) to ($0.71). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.67) per share, with EPS estimates ranging from ($1.36) to ($0.21). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Array Biopharma.
Array Biopharma (NASDAQ:ARRY) last posted its earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. The firm had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. Array Biopharma had a negative return on equity of 107.79% and a negative net margin of 98.51%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) earnings per share.
ARRY has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Array Biopharma from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Leerink Swann upgraded Array Biopharma from a “market perform” rating to an “outperform” rating in a report on Monday, January 22nd. ValuEngine upgraded Array Biopharma from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Jefferies Group lifted their target price on Array Biopharma to $13.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Finally, BidaskClub lowered Array Biopharma from a “hold” rating to a “sell” rating in a report on Wednesday, March 21st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Array Biopharma has an average rating of “Buy” and an average price target of $17.25.
ARRY stock traded down $0.55 during midday trading on Monday, hitting $14.39. 3,795,957 shares of the company’s stock were exchanged, compared to its average volume of 3,824,247. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.39. The firm has a market cap of $3,102.09, a PE ratio of -19.98 and a beta of 1.73. Array Biopharma has a one year low of $6.73 and a one year high of $18.78.
In related news, insider Victor Sandor sold 8,689 shares of Array Biopharma stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $15.35, for a total value of $133,376.15. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles M. Baum sold 50,000 shares of Array Biopharma stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $16.90, for a total value of $845,000.00. Following the completion of the sale, the director now directly owns 35,000 shares in the company, valued at approximately $591,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 286,705 shares of company stock worth $4,851,885. Corporate insiders own 3.18% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ARRY. Point72 Asset Management L.P. increased its position in shares of Array Biopharma by 274.4% in the third quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock valued at $110,811,000 after acquiring an additional 6,602,999 shares during the last quarter. BVF Inc. IL increased its position in shares of Array Biopharma by 35.7% in the fourth quarter. BVF Inc. IL now owns 8,686,498 shares of the biopharmaceutical company’s stock valued at $111,187,000 after acquiring an additional 2,283,973 shares during the last quarter. BlackRock Inc. increased its position in shares of Array Biopharma by 12.6% in the fourth quarter. BlackRock Inc. now owns 15,252,802 shares of the biopharmaceutical company’s stock valued at $195,236,000 after acquiring an additional 1,707,369 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Array Biopharma by 172.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,112,438 shares of the biopharmaceutical company’s stock valued at $27,039,000 after acquiring an additional 1,338,377 shares during the last quarter. Finally, Eversept Partners LLC acquired a new stake in shares of Array Biopharma in the fourth quarter valued at about $15,844,000. 96.41% of the stock is currently owned by institutional investors and hedge funds.
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Array Biopharma Company Profile
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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