Array BioPharma Sees Large Growth in Short Interest (ARRY)
Array BioPharma (NASDAQ:ARRY) was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 16,677,635 shares, a growth of 11.9% from the April 15th total of 14,899,958 shares, Analyst Ratings Network reports. Approximately 13.6% of the shares of the stock are short sold. Based on an average trading volume of 1,912,329 shares, the days-to-cover ratio is presently 8.7 days.
Separately, analysts at Zacks downgraded shares of Array BioPharma from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 19th. They now have a $5.40 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $6.35.
Shares of Array BioPharma (NASDAQ:ARRY) opened at 3.94 on Thursday. Array BioPharma has a 1-year low of $3.39 and a 1-year high of $7.10. The stock’s 50-day moving average is $4.09 and its 200-day moving average is $4.88. The company’s market cap is $494.3 million.
Array BioPharma (NASDAQ:ARRY) last released its earnings data on Tuesday, April 29th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01. The company had revenue of $7.80 million for the quarter, compared to the consensus estimate of $9.40 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. Analysts expect that Array BioPharma will post $-0.70 EPS for the current fiscal year.
Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer and inflammatory diseases.
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