Brokerages expect ARMO Biosciences Inc (NASDAQ:ARMO) to announce ($0.54) earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for ARMO Biosciences’ earnings. The highest EPS estimate is ($0.42) and the lowest is ($0.66). The company is expected to announce its next earnings results on Tuesday, August 21st.
According to Zacks, analysts expect that ARMO Biosciences will report full-year earnings of ($2.34) per share for the current year, with EPS estimates ranging from ($2.83) to ($1.77). For the next year, analysts expect that the company will post earnings of ($2.70) per share, with EPS estimates ranging from ($3.47) to ($1.82). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover ARMO Biosciences.
ARMO Biosciences (NASDAQ:ARMO) last posted its quarterly earnings results on Monday, April 2nd. The company reported ($9.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($9.17).
ARMO has been the subject of a number of analyst reports. Leerink Swann raised ARMO Biosciences from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Tuesday, March 27th. Zacks Investment Research downgraded ARMO Biosciences from a “hold” rating to a “sell” rating in a research report on Tuesday, April 24th. ValuEngine raised ARMO Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. BMO Capital Markets downgraded ARMO Biosciences from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a report on Thursday, May 10th. Finally, Robert W. Baird downgraded ARMO Biosciences from an “outperform” rating to a “neutral” rating and set a $67.00 price target for the company. in a report on Thursday, May 10th. Six equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $60.50.
ARMO Biosciences opened at $49.98 on Friday, MarketBeat Ratings reports. ARMO Biosciences has a 12 month low of $25.10 and a 12 month high of $57.19. The stock has a market capitalization of $1.52 billion and a P/E ratio of -1.75.
Several hedge funds have recently bought and sold shares of ARMO. Wells Fargo & Company MN acquired a new stake in shares of ARMO Biosciences in the first quarter valued at approximately $10,115,000. Rhumbline Advisers acquired a new stake in shares of ARMO Biosciences in the first quarter valued at approximately $227,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of ARMO Biosciences in the first quarter valued at approximately $1,233,000. American International Group Inc. acquired a new stake in shares of ARMO Biosciences in the first quarter valued at approximately $164,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of ARMO Biosciences in the first quarter valued at approximately $3,741,000. 40.94% of the stock is owned by institutional investors and hedge funds.
About ARMO Biosciences
ARMO BioSciences, Inc, an immuno-oncology company, develops a pipeline of novel product candidates that activate the immune system of cancer patients to recognize and eradicate tumors in the United States. Its lead product candidate is AM0010, a long acting form of human interleukin-10 that is in Phase III randomized pivotal clinical trial for the treatment of pancreatic ductal adenocarcinoma.
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