FY2022 Earnings Forecast for Array BioPharma Inc. Issued By SunTrust Banks (ARRY)

Array BioPharma Inc. (NASDAQ:ARRY) – SunTrust Banks lowered their FY2022 EPS estimates for shares of Array BioPharma in a research note issued on Tuesday. SunTrust Banks analyst P. Lawson now expects that the biopharmaceutical company will earn $0.82 per share for the year, down from their prior estimate of $0.83. SunTrust Banks has a “Buy” rating and a $20.00 price objective on the stock.

Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The company had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. Array BioPharma had a negative net margin of 98.51% and a negative return on equity of 154.43%. Array BioPharma’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.14) earnings per share.

A number of other research analysts have also issued reports on ARRY. Leerink Swann boosted their price target on shares of Array BioPharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on shares of Array BioPharma from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 price target on shares of Array BioPharma in a research note on Sunday, January 21st. BidaskClub upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Finally, Zacks Investment Research lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Array BioPharma has an average rating of “Buy” and a consensus target price of $16.43.

Shares of Array BioPharma (NASDAQ:ARRY) traded down $0.68 during trading on Thursday, hitting $16.87. 8,192,824 shares of the stock were exchanged, compared to its average volume of 5,099,403. Array BioPharma has a twelve month low of $6.73 and a twelve month high of $18.24. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3,380.33, a price-to-earnings ratio of -21.91 and a beta of 2.04.

In other Array BioPharma news, CEO Ron Squarer sold 819,671 shares of the company’s 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 SEC, which is available through this hyperlink. Also, COO Andrew R. Robbins sold 282,874 shares of the company’s 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. Over the last quarter, insiders have sold 1,131,545 shares of company stock worth $12,315,221. Company insiders own 3.18% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Array BioPharma by 70.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 3,834 shares during the period. Fox Run Management L.L.C. acquired a new position in Array BioPharma during the third quarter worth about $146,000. Quantitative Systematic Strategies LLC acquired a new position in Array BioPharma during the fourth quarter worth about $169,000. First Mercantile Trust Co. acquired a new position in Array BioPharma during the fourth quarter worth about $182,000. Finally, Edge Wealth Management LLC acquired a new position in Array BioPharma during the third quarter worth about $185,000. Institutional investors own 98.13% of the company’s stock.

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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).

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

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