-$0.16 Earnings Per Share Expected for Array Biopharma Inc (NASDAQ:ARRY) This Quarter
Analysts predict that Array Biopharma Inc (NASDAQ:ARRY) will report earnings of ($0.16) per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Array Biopharma’s earnings, with the highest EPS estimate coming in at ($0.11) and the lowest estimate coming in at ($0.21). Array Biopharma reported earnings of ($0.24) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 33.3%. The firm is expected to announce its next earnings report on Tuesday, August 13th.
According to Zacks, analysts expect that Array Biopharma will report full-year earnings of ($0.51) per share for the current financial year, with EPS estimates ranging from ($0.56) to ($0.45). For the next financial year, analysts forecast that the company will report earnings of ($0.36) per share, with EPS estimates ranging from ($0.81) to $0.16. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Array Biopharma.
Array Biopharma (NASDAQ:ARRY) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.04. Array Biopharma had a negative net margin of 52.64% and a negative return on equity of 48.51%. The company had revenue of $64.68 million during the quarter, compared to analysts’ expectations of $54.04 million. During the same period in the prior year, the company earned ($0.11) earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year.
ARRY stock traded down $0.07 during mid-day trading on Friday, reaching $46.30. 1,900,724 shares of the stock traded hands, compared to its average volume of 7,144,134. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.70 and a quick ratio of 5.65. Array Biopharma has a 52 week low of $12.56 and a 52 week high of $47.05. The stock has a 50-day simple moving average of $39.27. The company has a market cap of $10.35 billion, a price-to-earnings ratio of -63.42 and a beta of 1.70.
In related news, insider Victor Sandor sold 15,728 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $27.50, for a total value of $432,520.00. Following the completion of the sale, the insider now owns 225,271 shares in the company, valued at $6,194,952.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 180,011 shares of company stock valued at $4,862,502. 2.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. lifted its stake in shares of Array Biopharma by 38.2% in the first quarter. Cornerstone Advisors Inc. now owns 2,226 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 615 shares during the period. Advisory Services Network LLC bought a new position in Array Biopharma during the first quarter worth about $84,000. Advisor Group Inc. lifted its stake in Array Biopharma by 39.2% during the fourth quarter. Advisor Group Inc. now owns 6,105 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,720 shares during the period. Raymond James & Associates bought a new position in Array Biopharma during the fourth quarter worth about $147,000. Finally, GSA Capital Partners LLP bought a new position in Array Biopharma during the fourth quarter worth about $166,000.
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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