Q1 2018 Earnings Estimate for Array BioPharma Inc. (ARRY) Issued By SunTrust Banks
Array BioPharma Inc. (NASDAQ:ARRY) – Equities research analysts at SunTrust Banks issued their Q1 2018 EPS estimates for shares of Array BioPharma in a research note issued on Wednesday. SunTrust Banks analyst P. Lawson anticipates that the biopharmaceutical company will earn ($0.31) per share for the quarter. SunTrust Banks also issued estimates for Array BioPharma’s Q2 2018 earnings at ($0.32) EPS, Q3 2018 earnings at ($0.36) EPS and Q4 2018 earnings at ($0.26) EPS.
Other equities analysts have also issued reports about the company. Piper Jaffray Companies reissued a “buy” rating and set a $14.00 price objective on shares of Array BioPharma in a report on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $13.00 price objective on shares of Array BioPharma in a report on Thursday. Cantor Fitzgerald set a $13.00 price objective on Array BioPharma and gave the company a “buy” rating in a report on Wednesday. Jefferies Group LLC set a $8.00 price objective on Array BioPharma and gave the company a “buy” rating in a report on Saturday, May 6th. Finally, BidaskClub raised Array BioPharma from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Array BioPharma currently has a consensus rating of “Hold” and an average target price of $11.54.
Array BioPharma (ARRY) traded down 3.58% during mid-day trading on Thursday, reaching $8.35. The company had a trading volume of 1,424,727 shares. The stock’s market capitalization is $1.43 billion. The company’s 50-day moving average is $8.26 and its 200-day moving average is $9.10. Array BioPharma has a one year low of $3.10 and a one year high of $13.40.
Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.04. The firm had revenue of $33.80 million for the quarter, compared to analyst estimates of $28.64 million. The business’s revenue for the quarter was down 21.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) earnings per share.
Large investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC increased its stake in shares of Array BioPharma by 9.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 12,568 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 1,103 shares during the period. Knott David M acquired a new stake in shares of Array BioPharma during the first quarter worth about $107,000. Teacher Retirement System of Texas increased its stake in shares of Array BioPharma by 8.3% in the second quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 972 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Array BioPharma during the second quarter worth about $110,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Array BioPharma during the first quarter worth about $114,000. Institutional investors own 96.42% of the company’s stock.
Array BioPharma Company Profile
Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib (partnered with AstraZeneca, PLC).
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