Array BioPharma (NASDAQ:ARRY) was upgraded by research analysts at Leerink Swann from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, The Fly reports.

Several other equities research analysts also recently weighed in on ARRY. Stifel Nicolaus upped their price objective on shares of Array BioPharma from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Array BioPharma in a report on Tuesday, September 26th. BidaskClub raised shares of Array BioPharma from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of Array BioPharma from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Jefferies Group upped their price objective on shares of Array BioPharma to $13.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $14.65.

Shares of Array BioPharma (ARRY) opened at $13.14 on Monday. The firm has a market cap of $2,588.94, a PE ratio of -17.76 and a beta of 1.91. Array BioPharma has a 1-year low of $6.73 and a 1-year high of $14.40. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 5.43.

Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, hitting the consensus estimate of ($0.22). The business had revenue of $29.75 million during the quarter, compared to the consensus estimate of $33.74 million. Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The company’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.20) earnings per share. analysts forecast that Array BioPharma will post -0.99 EPS for the current fiscal year.

In other Array BioPharma news, COO Andrew R. Robbins sold 282,874 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ron Squarer sold 819,671 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total transaction of $8,901,627.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,131,545 shares of company stock worth $12,315,221. 3.18% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its holdings in Array BioPharma by 22.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 961,894 shares of the biopharmaceutical company’s stock worth $12,313,000 after buying an additional 173,892 shares during the period. North Star Investment Management Corp. raised its holdings in Array BioPharma by 26.0% during the 4th quarter. North Star Investment Management Corp. now owns 63,000 shares of the biopharmaceutical company’s stock worth $806,000 after buying an additional 13,000 shares during the period. 683 Capital Management LLC acquired a new stake in Array BioPharma during the 3rd quarter worth about $6,150,000. Neuberger Berman Group LLC acquired a new stake in Array BioPharma during the 3rd quarter worth about $775,000. Finally, Janney Montgomery Scott LLC raised its holdings in Array BioPharma by 26.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 30,700 shares of the biopharmaceutical company’s stock worth $378,000 after buying an additional 6,450 shares during the period. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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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).

The Fly

Analyst Recommendations for Array BioPharma (NASDAQ:ARRY)

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