Analysts Anticipate Array BioPharma Inc. (ARRY) Will Announce Quarterly Sales of $24.82 Million
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.
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.
COPYRIGHT VIOLATION WARNING: “Analysts Anticipate Array BioPharma Inc. (ARRY) Will Announce Quarterly Sales of $24.82 Million” was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/12/06/analysts-anticipate-array-biopharma-inc-arry-will-announce-quarterly-sales-of-24-82-million.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Array BioPharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array BioPharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.