Analysts’ Recent Ratings Changes for Array BioPharma (ARRY)
A number of research firms have changed their ratings and price targets for Array BioPharma (NASDAQ: ARRY):
- 10/4/2016 – Array BioPharma was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat life threatening and debilitating diseases. The company’s proprietary drug development pipeline is focused on the treatment of cancer and inflammatory disease and includes clinical candidates that are designed to regulate therapeutically important targets. In addition, leading pharmaceutical and biotechnology companies collaborate with Array to discover and develop drug candidates across a broad range of therapeutic areas. “
- 9/27/2016 – Array BioPharma had its price target raised by analysts at Jefferies Group from $7.00 to $8.00. They now have a “buy” rating on the stock.
- 9/27/2016 – Array BioPharma had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $8.00 price target on the stock, up previously from $6.00.
- 9/26/2016 – Array BioPharma had its price target raised by analysts at Piper Jaffray Cos. from $7.00 to $10.00. They now have an “overweight” rating on the stock.
- 9/26/2016 – Array BioPharma had its price target raised by analysts at Leerink Swann from $6.00 to $9.00. They now have an “outperform” rating on the stock.
- 9/26/2016 – Array BioPharma had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $13.00 price target on the stock.
- 8/30/2016 – Array BioPharma had its “positive” rating reaffirmed by analysts at Leerink Swann. They now have a $6.00 price target on the stock.
- 8/29/2016 – Array BioPharma had its price target raised by analysts at Jefferies Group from $6.00 to $7.00. They now have a “buy” rating on the stock.
Shares of Array BioPharma Inc. (NASDAQ:ARRY) opened at 6.80 on Friday. Array BioPharma Inc. has a one year low of $2.38 and a one year high of $7.27. The company has a 50-day moving average price of $4.77 and a 200 day moving average price of $3.75. The stock’s market cap is $986.15 million.
Array BioPharma (NASDAQ:ARRY) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.02. Array BioPharma had a negative return on equity of 568.67% and a negative net margin of 67.33%. The company earned $43.20 million during the quarter, compared to analysts’ expectations of $41.51 million. During the same period in the prior year, the company posted ($0.09) earnings per share. The company’s revenue was up 251.2% on a year-over-year basis. Equities research analysts expect that Array BioPharma Inc. will post ($0.72) earnings per share for the current year.
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In other 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 value of $15,852,796.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by insiders.
Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer. The Company’s wholly owned clinical stage drugs include Filanesib in Phase II clinical trials, is indicated for Kinesin spindle protein (KSP), inhibitor for MM; ARRY-797 in Phase II clinical trials, indicated for p38 inhibitor for Lamin A/C-related dilated cardiomyopathy (LMNA-DCM); ARRY-502 in Phase II clinical trials, indicated for CRTh2 antagonist for asthma, and ARRY-614 in Phase I clinical trials, is indicated for p38/Tie2 dual inhibitor for myelodysplastic syndromes (MDS).
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