Equities analysts predict that Array BioPharma Inc. (NASDAQ:ARRY) will post sales of $24.82 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Array BioPharma’s earnings, with the highest sales estimate coming in at $38.00 million and the lowest estimate coming in at $11.50 million. Array BioPharma reported sales of $44.52 million during the same quarter last year, which indicates a negative year-over-year growth rate of 44.2%. The company is expected to report its next earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Array BioPharma will report full-year sales of $24.82 million for the current year, with estimates ranging from $63.25 million to $146.00 million. For the next fiscal year, analysts forecast that the company will post sales of $182.50 million per share, with estimates ranging from $131.01 million to $259.46 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Array BioPharma.

Array BioPharma (NASDAQ:ARRY) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.22). Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The firm had revenue of $29.75 million during the quarter, compared to analyst estimates of $33.74 million. During the same quarter last year, the business earned ($0.20) earnings per share. The company’s quarterly revenue was down 24.2% on a year-over-year basis.

Several analysts recently weighed in on the stock. J P Morgan Chase & Co reiterated a “buy” rating and issued a $14.00 price target on shares of Array BioPharma in a report on Monday, September 11th. Cantor Fitzgerald set a $15.00 price target on shares of Array BioPharma and gave the company a “buy” rating in a report on Tuesday, October 31st. Jefferies Group reiterated a “buy” rating and issued a $9.00 price target on shares of Array BioPharma in a report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Array BioPharma in a research report on Wednesday, November 1st. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $16.00 price target on shares of Array BioPharma in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $13.65.

In other news, Director Kyle Lefkoff sold 38,865 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $12.31, for a total transaction of $478,428.15. Following the transaction, the director now owns 51,585 shares of the company’s stock, valued at approximately $635,011.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas boosted its holdings in Array BioPharma by 8.3% in the second quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 972 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Array BioPharma by 7.2% in the second quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 1,012 shares in the last quarter. Amalgamated Bank boosted its holdings in Array BioPharma by 5.6% in the second quarter. Amalgamated Bank now owns 22,141 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 1,174 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Array BioPharma by 9.1% in the second quarter. Prudential Financial Inc. now owns 18,957 shares of the biopharmaceutical company’s stock worth $159,000 after acquiring an additional 1,580 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Array BioPharma by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 132,865 shares of the biopharmaceutical company’s stock worth $1,112,000 after purchasing an additional 4,287 shares during the last quarter. 98.16% of the stock is owned by institutional investors and hedge funds.

Shares of Array BioPharma (ARRY) remained flat at $$10.78 during trading on Wednesday. The company had a trading volume of 4,313,000 shares, compared to its average volume of 3,857,093. The company has a quick ratio of 5.43, a current ratio of 5.43 and a debt-to-equity ratio of 0.54. Array BioPharma has a 52-week low of $6.73 and a 52-week high of $13.40.

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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).

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

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