Array BioPharma Inc. (ARRY) to Post Q3 2018 Earnings of ($0.18) Per Share, Leerink Swann Forecasts
Array BioPharma Inc. (NASDAQ:ARRY) – Leerink Swann lifted their Q3 2018 EPS estimates for shares of Array BioPharma in a research note issued on Tuesday. Leerink Swann analyst M. Schmidt now forecasts that the biopharmaceutical company will post earnings of ($0.18) per share for the quarter, up from their prior estimate of ($0.23). Leerink Swann has a “Outperform” rating and a $20.00 price objective on the stock. Leerink Swann also issued estimates for Array BioPharma’s Q4 2018 earnings at ($0.27) EPS, FY2018 earnings at ($0.84) EPS, FY2019 earnings at ($0.72) EPS and FY2020 earnings at ($0.37) EPS.
Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. Array BioPharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The business had revenue of $42.21 million during the quarter, compared to the consensus estimate of $26.81 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year.
Array BioPharma (NASDAQ:ARRY) opened at $17.03 on Friday. The company has a current ratio of 6.17, a quick ratio of 5.43 and a debt-to-equity ratio of 0.39. Array BioPharma has a fifty-two week low of $6.73 and a fifty-two week high of $18.24. The stock has a market cap of $3,502.83, a price-to-earnings ratio of -22.12 and a beta of 2.04.
In other Array BioPharma news, COO Andrew R. Robbins sold 282,874 shares of Array BioPharma stock in a transaction on Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lunsen Gil J. Van sold 21,500 shares of Array BioPharma stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $12.94, for a total transaction of $278,210.00. Following the completion of the transaction, the director now directly owns 34,297 shares of the company’s stock, valued at approximately $443,803.18. The disclosure for this sale can be found here. Insiders sold 1,131,545 shares of company stock valued at $12,315,221 in the last ninety days. 3.18% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Array BioPharma by 15.5% in the second quarter. Vanguard Group Inc. now owns 19,622,890 shares of the biopharmaceutical company’s stock valued at $164,243,000 after buying an additional 2,629,475 shares in the last quarter. BlackRock Inc. increased its holdings in Array BioPharma by 12.6% in the fourth quarter. BlackRock Inc. now owns 15,252,802 shares of the biopharmaceutical company’s stock valued at $195,236,000 after buying an additional 1,707,369 shares in the last quarter. State Street Corp increased its holdings in Array BioPharma by 15.5% in the second quarter. State Street Corp now owns 9,544,525 shares of the biopharmaceutical company’s stock valued at $79,890,000 after buying an additional 1,279,750 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Array BioPharma by 274.4% in the third quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock valued at $110,811,000 after buying an additional 6,602,999 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Array BioPharma by 8.5% in the second quarter. Northern Trust Corp now owns 2,130,493 shares of the biopharmaceutical company’s stock valued at $17,832,000 after buying an additional 166,031 shares in the last quarter. 98.13% of the stock is owned by institutional investors.
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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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