Equities analysts expect Array Biopharma Inc (NASDAQ:ARRY) to post earnings of ($0.25) per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Array Biopharma’s earnings, with estimates ranging from ($0.35) to ($0.16). Array Biopharma posted earnings of ($0.17) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 47.1%. The firm is scheduled to announce its next earnings report on Wednesday, August 8th.
According to Zacks, analysts expect that Array Biopharma will report full-year earnings of ($0.76) per share for the current fiscal year, with EPS estimates ranging from ($0.85) to ($0.65). For the next year, analysts anticipate that the business will report earnings of ($0.64) per share, with EPS estimates ranging from ($1.16) to ($0.28). Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Array Biopharma.
Get Array Biopharma alerts:Array Biopharma (NASDAQ:ARRY) last posted its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.11. Array Biopharma had a negative return on equity of 96.65% and a negative net margin of 72.33%. The business had revenue of $66.37 million during the quarter, compared to analysts’ expectations of $28.81 million. During the same period in the previous year, the business earned ($0.21) earnings per share. The firm’s revenue was up 99.4% on a year-over-year basis.
Several equities analysts recently commented on the company. Stifel Nicolaus boosted their target price on Array Biopharma from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. BidaskClub upgraded Array Biopharma from a “sell” rating to a “hold” rating in a research report on Monday, May 14th. Zacks Investment Research cut Array Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, May 14th. SunTrust Banks restated a “buy” rating and set a $20.00 target price on shares of Array Biopharma in a research report on Tuesday, February 6th. Finally, Leerink Swann boosted their target price on Array Biopharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $18.00.
In other Array Biopharma news, Director Lunsen Gil J. Van sold 21,500 shares of Array Biopharma stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $16.76, for a total transaction of $360,340.00. Following the completion of the sale, the director now owns 26,297 shares of the company’s stock, valued at $440,737.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victor Sandor sold 156,016 shares of Array Biopharma stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $17.71, for a total value of $2,763,043.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 229,205 shares of company stock valued at $3,913,585. Corporate insiders own 3.18% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Array Biopharma by 107.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,614 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 4,470 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Array Biopharma by 70.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 3,834 shares during the last quarter. QS Investors LLC bought a new stake in shares of Array Biopharma in the 4th quarter valued at about $134,000. GSA Capital Partners LLP bought a new stake in shares of Array Biopharma in the 1st quarter valued at about $208,000. Finally, Royal Bank of Canada lifted its stake in shares of Array Biopharma by 266.7% in the 1st quarter. Royal Bank of Canada now owns 12,874 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 9,363 shares during the last quarter. 92.55% of the stock is owned by institutional investors.
Array Biopharma stock traded up $0.25 during midday trading on Wednesday, hitting $15.89. 1,305,354 shares of the company’s stock were exchanged, compared to its average volume of 2,500,259. Array Biopharma has a 52-week low of $7.15 and a 52-week high of $18.78. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.36. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of -22.07 and a beta of 1.73.
Array Biopharma Company Profile
Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer in North America, Europe, and the Asia Pacific. The company's drugs in Phase III clinical trials include Binimetinib, Encorafenib, Selumetinib, and Ipatasertib/GDC-0068 for the treatment of cancer, as well as ASC08/Danoprevir to treat hepatitis C virus.
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