-$0.16 Earnings Per Share Expected for Array Biopharma Inc (ARRY) This Quarter

Wall Street brokerages predict that Array Biopharma Inc (NASDAQ:ARRY) will post earnings of ($0.16) per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Array Biopharma’s earnings, with estimates ranging from ($0.26) to ($0.08). Array Biopharma reported earnings of ($0.17) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 5.9%. The business is scheduled to report its next earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that Array Biopharma will report full year earnings of ($0.65) per share for the current financial year, with EPS estimates ranging from ($0.91) to ($0.52). For the next financial year, analysts anticipate that the company will post earnings of ($0.43) per share, with EPS estimates ranging from ($0.97) to $0.20. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for Array Biopharma.

Array Biopharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.10. The business had revenue of $56.91 million during the quarter, compared to the consensus estimate of $34.47 million. Array Biopharma had a negative return on equity of 74.02% and a negative net margin of 66.77%. Array Biopharma’s quarterly revenue was up 91.3% on a year-over-year basis. During the same period last year, the company earned ($0.22) earnings per share.

A number of research analysts recently issued reports on ARRY shares. Zacks Investment Research upgraded Array Biopharma from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Cowen set a $22.00 price target on Array Biopharma and gave the company a “buy” rating in a research report on Sunday, October 7th. BidaskClub raised Array Biopharma from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. Finally, Guggenheim assumed coverage on Array Biopharma in a research report on Monday, September 17th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $22.44.

In related news, Director Lunsen Gil J. Van sold 18,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $14.76, for a total transaction of $265,680.00. Following the completion of the transaction, the director now directly owns 37,297 shares of the company’s stock, valued at $550,503.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victor Sandor sold 9,687 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $15.38, for a total value of $148,986.06. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC acquired a new stake in shares of Array Biopharma in the second quarter valued at approximately $101,000. Glenmede Trust Co. NA lifted its position in shares of Array Biopharma by 54.2% in the third quarter. Glenmede Trust Co. NA now owns 10,385 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 3,650 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Array Biopharma in the third quarter valued at approximately $164,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Array Biopharma in the second quarter valued at approximately $191,000. Finally, Royal Bank of Canada lifted its position in shares of Array Biopharma by 266.7% in the first quarter. Royal Bank of Canada now owns 12,874 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 9,363 shares during the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ARRY traded up $0.03 during mid-day trading on Friday, reaching $15.64. 761,088 shares of the stock were exchanged, compared to its average volume of 2,939,499. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.62 and a current ratio of 5.62. The company has a market cap of $3.33 billion, a PE ratio of -21.42 and a beta of 1.11. Array Biopharma has a one year low of $10.36 and a one year high of $20.21.

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 and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.

Further Reading: How is the S&P 500 index different from the DJIA?

Get a free copy of the Zacks research report on Array Biopharma (ARRY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Array Biopharma (NASDAQ:ARRY)

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

Leave a Reply