Array BioPharma Inc. (ARRY) Given Average Recommendation of “Buy” by Brokerages
Shares of Array BioPharma Inc. (NASDAQ:ARRY) have earned an average rating of “Buy” from the nine brokerages that are presently covering the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $9.13.
A number of research analysts recently commented on ARRY shares. Jefferies Group boosted their price target on Array BioPharma from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, September 27th. Cantor Fitzgerald reissued a “buy” rating and issued a $13.00 price target on shares of Array BioPharma in a report on Monday, September 26th. Stifel Nicolaus boosted their price target on Array BioPharma from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Piper Jaffray Cos. set a $7.00 price target on Array BioPharma and gave the stock a “buy” rating in a report on Tuesday, August 9th. Finally, Zacks Investment Research cut Array BioPharma from a “buy” rating to a “hold” rating in a report on Monday, August 8th.
Shares of Array BioPharma (NASDAQ:ARRY) opened at 8.00 on Tuesday. The company’s market cap is $1.35 billion. Array BioPharma has a 12-month low of $2.38 and a 12-month high of $8.19. The company has a 50-day moving average of $6.60 and a 200 day moving average of $4.50.
Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.04. Array BioPharma had a negative return on equity of 568.67% and a negative net margin of 62.42%. The business earned $39.30 million during the quarter, compared to analysts’ expectations of $32.47 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 142.4% on a year-over-year basis. On average, equities research analysts expect that Array BioPharma will post ($0.77) EPS for the current year.
In related news, major shareholder Redmile Group, Llc sold 2,492,578 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $6.36, for a total transaction of $15,852,796.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ARRY. Prudential Financial Inc. raised its stake in Array BioPharma by 6.5% in the third quarter. Prudential Financial Inc. now owns 15,177 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 920 shares during the last quarter. Aperio Group LLC raised its stake in Array BioPharma by 13.6% in the third quarter. Aperio Group LLC now owns 16,494 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 1,978 shares during the last quarter. Gotham Asset Management LLC bought a new stake in Array BioPharma during the third quarter valued at $113,000. Dimensional Fund Advisors LP bought a new stake in Array BioPharma during the second quarter valued at $114,000. Finally, BlackRock Inc. raised its stake in Array BioPharma by 261.7% in the second quarter. BlackRock Inc. now owns 33,654 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 24,349 shares during the last quarter. Institutional investors own 74.56% 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).
Receive News & Stock Ratings for Array BioPharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array BioPharma Inc. and related stocks with our FREE daily email newsletter.