Why Array BioPharma (ARRY) Could Be Positioned for a Surge?
Array BioPharma Inc. ARRY is a biopharmaceutical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ARRY’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Array BioPharmacould be a solid choice for investors.
Current Quarter Estimates for ARRY
In the past 30 days, 2 estimates have gone higher for Array BioPharma while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 12 cents a share 30 days ago, to a loss of 5 cents per share today, a move of 58.3%.
Current Year Estimates for ARRY
Meanwhile, Array BioPharma’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to 0 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 56 cents per share 30 days ago to a loss of 49 cents per share today, an increase of 12.5%.
Bottom Line
The stock has also started to move higher lately, adding 14.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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ARRAY BIOPHARMA (ARRY): Free Stock Analysis Report
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