Q1 2018 Earnings Estimate for Array BioPharma Inc. (ARRY) Issued By Jefferies Group
Array BioPharma Inc. (NASDAQ:ARRY) – Equities researchers at Jefferies Group raised their Q1 2018 EPS estimates for shares of Array BioPharma in a research note issued to investors on Wednesday. Jefferies Group analyst E. Yang now forecasts that the biopharmaceutical company will earn ($0.19) per share for the quarter, up from their prior forecast of ($0.22). Jefferies Group currently has a “Buy” rating and a $8.00 price target on the stock. Jefferies Group also issued estimates for Array BioPharma’s Q2 2018 earnings at ($0.18) EPS, Q3 2018 earnings at ($0.18) EPS, Q4 2018 earnings at ($0.21) EPS, FY2018 earnings at ($0.76) EPS, FY2019 earnings at ($0.51) EPS and FY2020 earnings at $0.06 EPS.
A number of other equities research analysts have also commented on ARRY. J P Morgan Chase & Co raised Array BioPharma from a “neutral” rating to an “overweight” rating and increased their price target for the company from $9.00 to $10.00 in a research report on Wednesday, May 3rd. Piper Jaffray Companies set a $14.00 target price on Array BioPharma and gave the company a “buy” rating in a research report on Wednesday, May 31st. ValuEngine raised Array BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised Array BioPharma from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Zacks Investment Research lowered Array BioPharma from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Array BioPharma has a consensus rating of “Buy” and an average target price of $11.54.
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Array BioPharma (NASDAQ:ARRY) opened at 8.62 on Monday. The company’s 50-day moving average is $8.24 and its 200-day moving average is $9.07. Array BioPharma has a one year low of $3.10 and a one year high of $13.40. The firm’s market capitalization is $1.47 billion.
Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.04. Array BioPharma had a negative net margin of 77.44% and a negative return on equity of 1,267.92%. The company had revenue of $33.80 million for the quarter, compared to the consensus estimate of $28.64 million. During the same period last year, the company earned ($0.17) earnings per share. The firm’s revenue was down 21.8% compared to the same quarter last year.
Several large investors have recently made changes to their positions in the stock. Fisher Asset Management LLC raised its stake in shares of Array BioPharma by 72.0% in the second quarter. Fisher Asset Management LLC now owns 134,180 shares of the biopharmaceutical company’s stock valued at $1,123,000 after buying an additional 56,166 shares in the last quarter. Parametrica Management Ltd acquired a new stake in shares of Array BioPharma during the first quarter valued at about $275,000. UBS Asset Management Americas Inc. raised its stake in shares of Array BioPharma by 937.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 853,469 shares of the biopharmaceutical company’s stock valued at $7,502,000 after buying an additional 771,189 shares in the last quarter. Alambic Investment Management L.P. raised its stake in shares of Array BioPharma by 12.6% in the first quarter. Alambic Investment Management L.P. now owns 195,030 shares of the biopharmaceutical company’s stock valued at $1,744,000 after buying an additional 21,800 shares in the last quarter. Finally, Spark Investment Management LLC raised its stake in shares of Array BioPharma by 30.9% in the first quarter. Spark Investment Management LLC now owns 343,900 shares of the biopharmaceutical company’s stock valued at $3,074,000 after buying an additional 81,200 shares in the last quarter. 96.27% of the stock is owned by hedge funds and other institutional investors.
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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