$68.65 Million in Sales Expected for Array Biopharma Inc (NASDAQ:ARRY) This Quarter
Brokerages predict that Array Biopharma Inc (NASDAQ:ARRY) will report sales of $68.65 million for the current quarter, Zacks reports. Six analysts have made estimates for Array Biopharma’s earnings. The highest sales estimate is $79.98 million and the lowest is $57.73 million. Array Biopharma reported sales of $35.44 million during the same quarter last year, which would suggest a positive year over year growth rate of 93.7%. The company is scheduled to announce its next earnings results on Tuesday, August 13th.
On average, analysts expect that Array Biopharma will report full-year sales of $270.71 million for the current fiscal year, with estimates ranging from $261.87 million to $284.11 million. For the next financial year, analysts forecast that the firm will report sales of $360.99 million, with estimates ranging from $288.54 million to $474.36 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Array Biopharma.
Array Biopharma (NASDAQ:ARRY) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. The company had revenue of $64.68 million for the quarter, compared to analyst estimates of $54.04 million. Array Biopharma had a negative return on equity of 48.51% and a negative net margin of 52.64%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) earnings per share.
Shares of NASDAQ:ARRY remained flat at $$46.49 during trading on Friday. The stock had a trading volume of 4,181,755 shares, compared to its average volume of 5,394,213. The stock has a market cap of $10.37 billion, a P/E ratio of -63.68 and a beta of 1.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.65 and a current ratio of 5.70. The business has a fifty day moving average of $40.45. Array Biopharma has a 1-year low of $12.56 and a 1-year high of $47.05.
In related news, insider Victor Sandor sold 40,634 shares of Array Biopharma stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $26.50, for a total value of $1,076,801.00. Following the sale, the insider now directly owns 278,326 shares in the company, valued at $7,375,639. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 180,011 shares of company stock worth $4,862,502. Company insiders own 2.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of ARRY. FMR LLC boosted its position in Array Biopharma by 16.9% during the fourth quarter. FMR LLC now owns 31,693,502 shares of the biopharmaceutical company’s stock worth $451,632,000 after purchasing an additional 4,591,866 shares in the last quarter. Marshall Wace North America L.P. boosted its position in Array Biopharma by 19,428.9% during the first quarter. Marshall Wace North America L.P. now owns 2,554,381 shares of the biopharmaceutical company’s stock worth $62,275,000 after purchasing an additional 2,541,301 shares in the last quarter. Norges Bank purchased a new stake in Array Biopharma during the fourth quarter worth $27,689,000. Great Point Partners LLC purchased a new stake in Array Biopharma during the fourth quarter worth $26,363,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in Array Biopharma during the first quarter worth $29,776,000.
Array Biopharma Company Profile
Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.
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