Equities research analysts predict that Array BioPharma Inc. (NASDAQ:ARRY) will announce sales of $31.65 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Array BioPharma’s earnings. The lowest sales estimate is $27.94 million and the highest is $38.50 million. Array BioPharma reported sales of $33.28 million in the same quarter last year, which would suggest a negative year over year growth rate of 4.9%. The firm is expected to report its next earnings results on Wednesday, May 9th.
On average, analysts expect that Array BioPharma will report full year sales of $31.65 million for the current fiscal year, with estimates ranging from $89.20 million to $146.00 million. For the next year, analysts anticipate that the company will report sales of $175.74 million per share, with estimates ranging from $124.40 million to $260.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Array BioPharma.
Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.06. The firm had revenue of $42.21 million during the quarter, compared to the consensus estimate of $26.81 million. Array BioPharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.14) EPS.
Shares of Array BioPharma (NASDAQ ARRY) opened at $17.03 on Monday. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3,536.05, a PE ratio of -22.12 and a beta of 2.04. Array BioPharma has a twelve month low of $6.73 and a twelve month high of $18.24.
In related news, CEO Ron Squarer sold 819,671 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $10.86, for a total transaction of $8,901,627.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew R. Robbins sold 282,874 shares of the company’s stock in a transaction that occurred on 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. Insiders sold a total of 1,131,545 shares of company stock valued at $12,315,221 over the last 90 days. Corporate insiders own 3.18% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ARRY. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Array BioPharma by 70.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 3,834 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Array BioPharma by 7.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 1,012 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Array BioPharma during the 3rd quarter worth approximately $146,000. Raymond James Financial Services Advisors Inc. increased its position in Array BioPharma by 71.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 18,317 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 7,661 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in Array BioPharma by 9.1% during the 2nd quarter. Prudential Financial Inc. now owns 18,957 shares of the biopharmaceutical company’s stock worth $159,000 after purchasing an additional 1,580 shares in the last quarter. Institutional investors and hedge funds own 92.92% 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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