Analysts expect Array Biopharma Inc (NASDAQ:ARRY) to report ($0.20) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Array Biopharma’s earnings, with estimates ranging from ($0.24) to ($0.12). Array Biopharma reported earnings per share of ($0.22) during the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The firm is expected to issue its next quarterly earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that Array Biopharma will report full-year earnings of ($0.73) per share for the current financial year, with EPS estimates ranging from ($1.11) to ($0.40). For the next fiscal year, analysts expect that the business will report earnings of ($0.41) per share, with EPS estimates ranging from ($1.08) to $0.20. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Array Biopharma.
Array Biopharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, August 14th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $35.40 million for the quarter, compared to analysts’ expectations of $38.73 million. Array Biopharma had a negative return on equity of 80.54% and a negative net margin of 84.79%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) EPS.
ARRY opened at $12.92 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.71 and a quick ratio of 4.71. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -17.70 and a beta of 1.11. Array Biopharma has a 12 month low of $9.98 and a 12 month high of $20.21.
In other news, Director Lunsen Gil J. Van sold 18,000 shares of Array Biopharma stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $14.76, for a total value of $265,680.00. Following the transaction, the director now directly owns 37,297 shares of the company’s stock, valued at approximately $550,503.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victor Sandor sold 9,687 shares of Array Biopharma stock in a transaction dated 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. Insiders sold a total of 94,187 shares of company stock worth $1,420,856 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARRY. FMR LLC lifted its position in Array Biopharma by 3.3% during the 2nd quarter. FMR LLC now owns 24,390,396 shares of the biopharmaceutical company’s stock worth $409,271,000 after acquiring an additional 787,460 shares in the last quarter. BlackRock Inc. lifted its position in Array Biopharma by 6.1% during the 2nd quarter. BlackRock Inc. now owns 16,919,696 shares of the biopharmaceutical company’s stock worth $283,912,000 after acquiring an additional 970,259 shares in the last quarter. Morgan Stanley lifted its position in Array Biopharma by 127.7% during the 2nd quarter. Morgan Stanley now owns 3,578,476 shares of the biopharmaceutical company’s stock worth $60,048,000 after acquiring an additional 2,006,894 shares in the last quarter. American Century Companies Inc. lifted its position in Array Biopharma by 64.4% during the 2nd quarter. American Century Companies Inc. now owns 2,610,740 shares of the biopharmaceutical company’s stock worth $43,808,000 after acquiring an additional 1,022,370 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Array Biopharma by 4.4% during the 2nd quarter. Northern Trust Corp now owns 2,524,664 shares of the biopharmaceutical company’s stock worth $42,364,000 after acquiring an additional 105,314 shares in the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.
About Array Biopharma
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.
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