Brokerages Expect Array Biopharma Inc (ARRY) to Announce -$0.20 EPS
Analysts expect Array Biopharma Inc (NASDAQ:ARRY) to post ($0.20) earnings per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Array Biopharma’s earnings, with the highest EPS estimate coming in at ($0.12) and the lowest estimate coming in at ($0.24). Array Biopharma posted earnings of ($0.22) per share during the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 30th.
On average, analysts expect that Array Biopharma will report full year earnings of ($0.72) per share for the current year, with EPS estimates ranging from ($1.11) to ($0.40). For the next fiscal year, analysts expect that the business will post earnings of ($0.41) per share, with EPS estimates ranging from ($1.08) to $0.20. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Array Biopharma.
Array Biopharma (NASDAQ:ARRY) last announced its quarterly earnings data on Tuesday, August 14th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Array Biopharma had a negative net margin of 84.79% and a negative return on equity of 80.54%. The business had revenue of $35.40 million during the quarter, compared to the consensus estimate of $38.73 million. During the same period in the previous year, the business posted ($0.17) earnings per share. Array Biopharma’s revenue was up 4.7% compared to the same quarter last year.
In other news, insider Victor Sandor sold 22,424 shares of Array Biopharma stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $18.75, for a total transaction of $420,450.00. Following the transaction, the insider now directly owns 232,510 shares of the company’s stock, valued at $4,359,562.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ron Squarer sold 184,253 shares of Array Biopharma stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $17.96, for a total transaction of $3,309,183.88. Following the transaction, the chief executive officer now directly owns 289,456 shares in the company, valued at $5,198,629.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 449,904 shares of company stock worth $7,941,537. Insiders own 3.18% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB boosted its position in shares of Array Biopharma by 17.5% during the second quarter. Xact Kapitalforvaltning AB now owns 30,278 shares of the biopharmaceutical company’s stock worth $508,000 after purchasing an additional 4,500 shares in the last quarter. FMR LLC raised its holdings in shares of Array Biopharma by 3.3% during the second quarter. FMR LLC now owns 24,390,396 shares of the biopharmaceutical company’s stock worth $409,271,000 after acquiring an additional 787,460 shares during the period. Columbus Circle Investors raised its holdings in shares of Array Biopharma by 43.6% during the second quarter. Columbus Circle Investors now owns 1,627,696 shares of the biopharmaceutical company’s stock worth $27,313,000 after acquiring an additional 493,964 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Array Biopharma during the first quarter worth $448,000. Finally, Strs Ohio raised its holdings in shares of Array Biopharma by 204.7% during the second quarter. Strs Ohio now owns 64,300 shares of the biopharmaceutical company’s stock worth $1,078,000 after acquiring an additional 43,200 shares during the period. 92.38% of the stock is currently owned by institutional investors.
Shares of ARRY stock opened at $14.49 on Tuesday. Array Biopharma has a 52-week low of $9.60 and a 52-week high of $20.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.71 and a quick ratio of 4.71.
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 in North America, Europe, and the Asia Pacific. The company's drugs in Phase III clinical trials include Binimetinib, Encorafenib, Selumetinib, and Ipatasertib/GDC-0068 for the treatment of cancer, as well as ASC08/Danoprevir to treat hepatitis C virus.
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