Array BioPharma Inc. (NASDAQ:ARRY) – Research analysts at Cantor Fitzgerald issued their FY2019 EPS estimates for Array BioPharma in a research report issued on Monday. Cantor Fitzgerald analyst M. Goldstein expects that the biopharmaceutical company will earn ($0.51) per share for the year. Cantor Fitzgerald has a “Buy” rating and a $15.00 price objective on the stock.
Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Array BioPharma from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Group increased their price target on shares of Array BioPharma to $13.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. BidaskClub upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. SunTrust Banks restated a “buy” rating and set a $16.00 price target on shares of Array BioPharma in a research report on Wednesday, November 1st. Finally, Stifel Nicolaus restated a “buy” rating 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 assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $14.10.
Array BioPharma (NASDAQ:ARRY) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.22). The company had revenue of $29.75 million during the quarter, compared to the consensus estimate of $33.74 million. Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The firm’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) earnings per share.
In other Array BioPharma news, CEO Ron Squarer sold 819,671 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $10.86, for a total transaction of $8,901,627.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew R. Robbins sold 282,874 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $10.72, for a total transaction of $3,032,409.28. The disclosure for this sale can be found here. 3.18% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of ARRY. Russell Investments Group Ltd. boosted its position in Array BioPharma by 19.0% during the second quarter. Russell Investments Group Ltd. now owns 157,040 shares of the biopharmaceutical company’s stock worth $1,315,000 after purchasing an additional 25,118 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Array BioPharma by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 731,187 shares of the biopharmaceutical company’s stock valued at $6,121,000 after acquiring an additional 6,318 shares during the period. First Trust Advisors LP bought a new position in shares of Array BioPharma in the second quarter valued at approximately $1,874,000. State of Wisconsin Investment Board bought a new position in shares of Array BioPharma in the second quarter valued at approximately $1,071,000. Finally, Legal & General Group Plc boosted its position in shares of Array BioPharma by 20.6% in the second quarter. Legal & General Group Plc now owns 67,656 shares of the biopharmaceutical company’s stock valued at $566,000 after acquiring an additional 11,546 shares during the period. Hedge funds and other institutional investors own 98.13% 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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