Array Biopharma Inc to Post FY2021 Earnings of $0.21 Per Share, SunTrust Banks Forecasts (ARRY)

Array Biopharma Inc (NASDAQ:ARRY) – Analysts at SunTrust Banks decreased their FY2021 EPS estimates for shares of Array Biopharma in a research note issued to investors on Tuesday, February 5th. SunTrust Banks analyst P. Lawson now anticipates that the biopharmaceutical company will post earnings per share of $0.21 for the year, down from their prior forecast of $0.22. SunTrust Banks also issued estimates for Array Biopharma’s FY2022 earnings at $1.30 EPS.

Array Biopharma (NASDAQ:ARRY) last posted its earnings results on Tuesday, February 5th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.11. Array Biopharma had a negative net margin of 46.20% and a negative return on equity of 44.37%. The company had revenue of $82.55 million for the quarter, compared to analyst estimates of $52.44 million. During the same quarter in the prior year, the business posted ($0.17) EPS. The firm’s revenue was up 95.5% compared to the same quarter last year.

A number of other brokerages also recently issued reports on ARRY. BidaskClub raised shares of Array Biopharma from a “buy” rating to a “strong-buy” rating in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Array Biopharma in a research report on Wednesday. Zacks Investment Research raised shares of Array Biopharma from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Tuesday. Finally, Piper Jaffray Companies reaffirmed a “positive” rating and issued a $28.00 price objective on shares of Array Biopharma in a research report on Tuesday, January 15th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $25.89.

Shares of ARRY stock opened at $21.81 on Thursday. Array Biopharma has a 52-week low of $12.56 and a 52-week high of $22.80. The company has a quick ratio of 5.62, a current ratio of 6.31 and a debt-to-equity ratio of 0.46.

In other Array Biopharma news, CEO Ron Squarer sold 110,000 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $21.64, for a total value of $2,380,400.00. Following the completion of the sale, the chief executive officer now directly owns 348,709 shares of the company’s stock, valued at approximately $7,546,062.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victor Sandor sold 6,268 shares of the company’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $14.05, for a total transaction of $88,065.40. The disclosure for this sale can be found here. Insiders sold a total of 1,084,761 shares of company stock valued at $21,452,310 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ARRY. FMR LLC grew its position in shares of Array Biopharma by 11.1% during the 3rd quarter. FMR LLC now owns 27,101,636 shares of the biopharmaceutical company’s stock valued at $411,945,000 after acquiring an additional 2,711,240 shares during the period. Peregrine Capital Management LLC bought a new position in shares of Array Biopharma during the 3rd quarter valued at approximately $17,000,000. Pictet Asset Management Ltd. grew its position in shares of Array Biopharma by 37.7% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,474,019 shares of the biopharmaceutical company’s stock valued at $37,605,000 after acquiring an additional 677,180 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of Array Biopharma by 80.2% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,351,188 shares of the biopharmaceutical company’s stock valued at $20,538,000 after acquiring an additional 601,300 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Array Biopharma by 19.4% during the 3rd quarter. American Century Companies Inc. now owns 3,116,886 shares of the biopharmaceutical company’s stock valued at $47,377,000 after acquiring an additional 506,146 shares during the period. 94.99% of the stock is owned by hedge funds and other institutional investors.

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.

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

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