Array BioPharma Inc. (ARRY) shares saw a recent bid of $7.69 and 2.4M shares have exchanged hands in the recent trading session, yielding a 1.45% gain over the past week. The stock price increased 0.39% or $-0.03 versus $7.66 at the end of the prior session. This change led market cap to move at $1.24B, putting the price -42.61% below the 52-week high and 148.06% above the 52-week low. The company’s stock has a normal trading capacity of 4.06M shares while the relative volume is 0.59.
By historical standards, Array BioPharma Inc. remains a cheap stock. The company’s current price-earnings ratio amounts above the average P/E ratio of 153.97 times earnings. For now, Array BioPharma Inc. is the toast of Wall Street as its ABR stands at 1.80 with 3 out of 9 analysts rating the stock a buy. Over the short term, some market observers may have noticed that Array BioPharma Inc. has a 12.66% short float with 15 days to cover. It becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. Array BioPharma Inc. has far performed well this year, with the share price down -12.51% since January. Over the past 2 quarters, the stock is down -11.71%, compared with a fall of nearly -33.82% for 3 months and about 10.49% for the past 30 days.
Revenue for the quarter also did not kill consensus, coming in at $33.28M, compared to the consensus of 36.99M. Nonetheless, from here on out, earnings per share forecasts for the current quarter are $-0.18. The company is expected to report EPS as high as $0.06 and as low as $-0.37 per share. Similarly, full-year EPS forecasts have ranged between $-0.86 and $-0.56. The mean EPS estimate is $-0.76. On the other side, sales forecasts for the current quarter are $29.22M. The stock is expected to report revenue as high as $49.5M and as low as $6M per share. Similarly, full-year sales forecasts have ranged between $130.1M and $150.4M. The mean revenue estimate is $144.51M.
Over the last 5 years, Array BioPharma Inc. has averaged a 8.60% YoY EPS growth rate and a 13.90% revenue growth rate. Analysts are expecting EPS growth rates to be at -16.90% this quarter and EPS estimate for next year reflect -17.10% growth rate.
Sell-side analysts also have something to say about this company. JP Morgan raised its rating on Array BioPharma Inc. to Overweight on 03/05/2017 in a reversal from its prior Neutral rating. Stifel analysts stated on 03/02/2017 that they maintained their Buy rating. JP Morgan had a markedly different take on 03/02/2017, proposing that Array BioPharma Inc. is now considered Neutral versus prior Overweight rating. Leerink Partners had a markedly different take on 30/01/2017, proposing that Array BioPharma Inc. is now considered Mkt Perform versus prior Outperform rating.