Array BioPharma Inc. (ARRY) Scheduled to Post Quarterly Earnings on Monday
Array BioPharma Inc. (NASDAQ:ARRY) will be announcing its earnings results before the market opens on Monday, October 30th. Analysts expect the company to announce earnings of ($0.23) per share for the quarter.
Array BioPharma (NASDAQ:ARRY) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ 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 1,187.18%. The business had revenue of $33.80 million during the quarter, compared to the consensus estimate of $28.64 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The firm’s revenue was down 21.8% compared to the same quarter last year. On average, analysts expect Array BioPharma to post $-0.98 EPS for the current fiscal year and $-0.56 EPS for the next fiscal year.
Shares of Array BioPharma Inc. (ARRY) traded down 2.89% during trading on Monday, reaching $10.76. 942,748 shares of the company’s stock traded hands. Array BioPharma Inc. has a 52-week low of $5.36 and a 52-week high of $13.40. The company’s 50-day moving average is $11.47 and its 200 day moving average is $9.09. The company’s market cap is $1.84 billion.
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A number of equities research analysts have recently weighed in on ARRY shares. J P Morgan Chase & Co restated a “buy” rating and issued a $14.00 price objective on shares of Array BioPharma in a report on Monday, September 11th. Zacks Investment Research lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Jefferies Group LLC restated a “buy” rating and issued a $9.00 price objective on shares of Array BioPharma in a report on Tuesday, September 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price objective (up from $13.00) on shares of Array BioPharma in a report on Friday, September 8th. Finally, BidaskClub upgraded shares of Array BioPharma from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.36.
In related news, Director Kyle Lefkoff sold 38,865 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $12.31, for a total value of $478,428.15. Following the transaction, the director now owns 51,585 shares in the company, valued at approximately $635,011.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.18% of the company’s stock.
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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