Array BioPharma Inc. (NASDAQ:ARRY) – Research analysts at Jefferies Group upped their FY2021 EPS estimates for Array BioPharma in a research report issued on Wednesday. Jefferies Group analyst E. Yang now forecasts that the biopharmaceutical company will post earnings per share of $0.73 for the year, up from their prior forecast of $0.61. Jefferies Group currently has a “Buy” rating and a $8.00 target price on the stock. Jefferies Group also issued estimates for Array BioPharma’s FY2022 earnings at $1.23 EPS.

A number of other brokerages have also commented on ARRY. Cantor Fitzgerald reissued a “buy” rating and set a $13.00 price target on shares of Array BioPharma in a research note on Tuesday, July 18th. BidaskClub raised Array BioPharma from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research lowered Array BioPharma from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Array BioPharma in a research note on Thursday. Finally, ValuEngine raised Array BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.54.

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Shares of Array BioPharma (NASDAQ:ARRY) traded up 3.36% on Friday, reaching $8.62. The company’s stock had a trading volume of 3,390,528 shares. The company’s market capitalization is $1.47 billion. Array BioPharma has a 12-month low of $3.10 and a 12-month high of $13.40. The company’s 50-day moving average is $8.25 and its 200 day moving average is $9.09.

Array BioPharma (NASDAQ:ARRY) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. Array BioPharma had a negative return on equity of 1,267.92% and a negative net margin of 77.44%. The business had revenue of $33.80 million during the quarter, compared to the consensus estimate of $28.64 million. During the same quarter last year, the company earned ($0.17) EPS. The firm’s revenue was down 21.8% compared to the same quarter last year.

Large investors have recently modified their holdings of the company. Prudential Financial Inc. increased its stake in shares of Array BioPharma by 3.5% in the first quarter. Prudential Financial Inc. now owns 17,377 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 590 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Array BioPharma by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 182,500 shares of the biopharmaceutical company’s stock valued at $1,528,000 after buying an additional 630 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of 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 valued at $107,000 after buying an additional 972 shares during the last quarter. Quantitative Systematic Strategies LLC increased its stake in shares of Array BioPharma by 9.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 12,568 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 1,103 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Array BioPharma by 5.6% in the second quarter. Amalgamated Bank now owns 22,141 shares of the biopharmaceutical company’s stock valued at $185,000 after buying an additional 1,174 shares during the last quarter. Hedge funds and other institutional investors own 96.42% 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).

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

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