Top Earnings to Watch for: Array BioPharma (ARRY)

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Array BioPharma Inc. (ARRY) added 0.34% to reach at the floor price of $2.98 as the company is set to share its next quarterly earnings on August 08, 2016. ARRY stock trades between $2.97 and $3.2 before the earnings release. Let’s take a closer look at the June 2016 earnings estimates, particularly the things investors should pay close attention to. Earnings (EPS) for the recently concluded quarter is projected to come in at -$0.18/share with $40.67M in revenue.

Earnings Track Record: If history is anything to go by, Array BioPharma Inc. (ARRY) managed to beat quarterly EPS forecasts in 8 of the trailing three fiscal years, and has a positive trend with an average surprise of 66%. Last time the company reported, Array BioPharma Inc. generated -$0.16 in earnings per share, missing the mean forecast of -$0.12. Revenues reached $43.05M in the March 2016 quarter, which was higher than the consensus $30.35M projection. On the other hand, in the December 2015 quarter it recorded a net $35.43M revenue with EPS of -$0.17. Wall Street had projected $32.7M and -$0.06, respectively. For comparison, there was a revenue of $12.32M and earnings of -$0.15 in the September 2015 quarter.

Future Earnings: After upcoming financial results, all eyes will be on the outlook or guidance for the next reporting quarter (September 2016). Analysts, on average, predict Array BioPharma Inc. to earn -$0.2 in earnings per share (EPS) on revenue of $40.67M. The earnings-per-share consensus range is -$0.2–$0.2 on sales between $26.03M and $58M.

Stock Trend vs. Analyst View: The stock is trading up 25.21 percent versus 1-year low of $2.38 and stands -62.94 lower from its peak of $8.04. The consensus price target of $8.33 means that the market expects Company shares to increase by 179.53% in the short run. The sell-side target prices range from $6 to $13. In the last month the stock has moved in price -7.17%, with a one year change of -59.46%. The last trading session volume compares with the 1.55M average and market worth floats around $426.01M.

Recent Analyst Rating Changes: The buoyancy in the prospect of Array BioPharma Inc. (ARRY) is getting stronger by the bullish sentiment (1.4 on a 5-point scale) that brokerage firms have issued concerning it. Wall Street analysts on the average recommend the company shares as Buy. UBS has been covering shares of ARRY, so it’s most recent view is worth a look. In a research note released on July 23, 2010, analysts at UBS lifted the stock to Buy from Neutral.  Another noteworthy analyst activity was recorded on April 22, 2010. UBS analysts downgraded the stock to Neutral from Buy.

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