Array BioPharma (ARRY) Releases Earnings Results, Beats Estimates By $0.06 EPS
Array BioPharma (NASDAQ:ARRY) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06, Briefing.com reports. The company had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share.
Array BioPharma (NASDAQ:ARRY) opened at $16.28 on Wednesday. Array BioPharma has a 52 week low of $6.73 and a 52 week high of $16.75. The firm has a market capitalization of $2,776.12, a PE ratio of -22.00 and a beta of 2.04. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54.
In related news, CEO Ron Squarer sold 819,671 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total value of $8,901,627.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew R. Robbins sold 282,874 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The disclosure for this sale can be found here. Insiders have sold 1,131,545 shares of company stock valued at $12,315,221 in the last ninety days. Company insiders own 3.18% of the company’s stock.
Several research analysts recently weighed in on the company. Cantor Fitzgerald set a $15.00 target price on Array BioPharma and gave the company a “buy” rating in a research note on Tuesday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Array BioPharma in a research note on Wednesday, November 1st. SunTrust Banks reaffirmed a “buy” rating and set a $16.00 target price on shares of Array BioPharma in a research note on Wednesday, November 1st. BidaskClub cut Array BioPharma from a “hold” rating to a “sell” rating in a research note on Saturday, December 2nd. Finally, Jefferies Group raised their target price on Array BioPharma to $13.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.61.
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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