Array BioPharma Inc. (NASDAQ:ARRY) – Research analysts at SunTrust Banks decreased their FY2022 EPS estimates for shares of Array BioPharma in a research note issued on Tuesday. SunTrust Banks analyst P. Lawson now expects that the biopharmaceutical company will post earnings of $0.82 per share for the year, down from their prior estimate of $0.83. SunTrust Banks currently has a “Buy” rating and a $20.00 price target on the stock.

Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.06. The firm had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. Array BioPharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) earnings per share.

A number of other analysts have also weighed in on ARRY. Cantor Fitzgerald set a $15.00 price objective on shares of Array BioPharma and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Stifel Nicolaus reiterated a “buy” rating on shares of Array BioPharma in a research note on Wednesday, November 1st. BidaskClub lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a research note on Saturday, December 2nd. Jefferies Group increased their price objective on shares of Array BioPharma to $13.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Finally, Zacks Investment Research lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Array BioPharma has an average rating of “Buy” and a consensus price target of $16.43.

Array BioPharma (ARRY) traded up $0.16 during trading hours on Thursday, hitting $17.03. 5,532,107 shares of the stock were exchanged, compared to its average volume of 5,270,504. The firm has a market capitalization of $3,502.83, a price-to-earnings ratio of -22.12 and a beta of 2.04. Array BioPharma has a 1 year low of $6.73 and a 1 year high of $18.24. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.17 and a quick ratio of 5.43.

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Array BioPharma by 70.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 3,834 shares during the period. Ameritas Investment Partners Inc. grew its position in Array BioPharma by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 1,012 shares during the period. Fox Run Management L.L.C. acquired a new stake in Array BioPharma during the third quarter valued at $146,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Array BioPharma by 71.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 18,317 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 7,661 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Array BioPharma by 9.1% during the second quarter. Prudential Financial Inc. now owns 18,957 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 1,580 shares in the last quarter. Institutional investors own 98.13% of the company’s stock.

In related news, COO Andrew R. Robbins sold 282,874 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $10.72, for a total transaction of $3,032,409.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ron Squarer sold 819,671 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $10.86, for a total transaction of $8,901,627.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,131,545 shares of company stock worth $12,315,221. 3.18% of the stock is owned by company insiders.

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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).

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

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