Array BioPharma’s (ARRY) Buy Rating Reiterated at Stifel Nicolaus
Other analysts have also issued reports about the company. Piper Jaffray Companies reaffirmed a buy rating and issued a $14.00 price objective on shares of Array BioPharma in a research note on Thursday, August 10th. Cantor Fitzgerald raised their price objective on Array BioPharma from $13.00 to $15.00 and gave the company an overweight rating in a research note on Monday, September 11th. Zacks Investment Research raised Array BioPharma from a sell rating to a hold rating in a research note on Friday, August 11th. Cowen and Company reaffirmed an outperform rating and issued a $15.00 price objective (up from $14.00) on shares of Array BioPharma in a research note on Monday, September 11th. Finally, Jefferies Group LLC set a $9.00 price objective on Array BioPharma and gave the company a buy rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Array BioPharma presently has a consensus rating of Buy and a consensus price target of $13.65.
Shares of Array BioPharma (ARRY) traded up $0.66 during mid-day trading on Wednesday, reaching $11.13. The company’s stock had a trading volume of 1,640,262 shares, compared to its average volume of 3,010,000. The company has a quick ratio of 3.88, a current ratio of 5.43 and a debt-to-equity ratio of 0.54. Array BioPharma has a 1-year low of $5.58 and a 1-year high of $13.40.
Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). The business had revenue of $29.75 million for the quarter, compared to analyst estimates of $33.74 million. Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. Array BioPharma’s revenue was down 24.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.20) earnings per share. research analysts anticipate that Array BioPharma will post -0.99 earnings per share for the current year.
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In other news, Director Kyle Lefkoff sold 38,865 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $12.31, for a total transaction of $478,428.15. Following the completion of the transaction, the director now directly owns 51,585 shares in the company, valued at $635,011.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.18% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. raised its position in shares of Array BioPharma by 3.5% during the first quarter. Prudential Financial Inc. now owns 17,377 shares of the biopharmaceutical company’s stock worth $155,000 after acquiring an additional 590 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Array BioPharma by 0.3% during the second quarter. Nisa Investment Advisors LLC now owns 182,500 shares of the biopharmaceutical company’s stock worth $1,528,000 after acquiring an additional 630 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Array BioPharma by 8.3% during the second quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 972 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Array BioPharma by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC raised its position in shares of Array BioPharma by 9.6% during the second quarter. Quantitative Systematic Strategies LLC now owns 12,568 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 1,103 shares during the last quarter. Institutional investors own 85.61% of the company’s stock.
About Array BioPharma
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).
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