Array Biopharma Inc (NASDAQ:ARRY) was upgraded by equities research analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued on Monday. The firm currently has a $9.99 target price on the biopharmaceutical company’s stock. Vetr‘s price target indicates a potential downside of 0.79% from the stock’s current price.

A number of other research firms have also weighed in on ARRY. Cowen and Company restated an “outperform” rating and set a $15.00 price target (up from $10.00) on shares of Array Biopharma in a research report on Friday, February 10th. Leerink Swann lowered shares of Array Biopharma from an “outperform” rating to a “market perform” rating and set a $11.00 price target on the stock. in a research report on Monday, January 30th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price target on shares of Array Biopharma from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. JPMorgan Chase & Co. lowered shares of Array Biopharma from an “overweight” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Friday, February 3rd. They noted that the move was a valuation call. Finally, Piper Jaffray Companies set a $15.00 price target on shares of Array Biopharma and gave the stock a “buy” rating in a research report on Tuesday, January 17th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Array Biopharma has an average rating of “Buy” and a consensus price target of $11.20.

Analyst Recommendations for Array Biopharma (NASDAQ:ARRY)

Shares of Array Biopharma (NASDAQ:ARRY) traded down 4.64% during trading on Monday, reaching $10.07. 15,174,315 shares of the company’s stock were exchanged. The stock’s market cap is $1.70 billion. The company has a 50 day moving average of $11.20 and a 200 day moving average of $8.17. Array Biopharma has a 12-month low of $2.60 and a 12-month high of $13.40.

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Array Biopharma (NASDAQ:ARRY) last announced its earnings results on Thursday, February 9th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The company earned $44.50 million during the quarter, compared to analyst estimates of $31.90 million. During the same quarter last year, the business earned ($0.17) EPS. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. Equities research analysts anticipate that Array Biopharma will post ($0.73) EPS for the current year.

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A number of institutional investors have recently modified their holdings of the company. ClariVest Asset Management LLC purchased a new position in shares of Array Biopharma during the fourth quarter worth approximately $753,000. DekaBank Deutsche Girozentrale increased its position in shares of Array Biopharma by 2.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 72,400 shares of the biopharmaceutical company’s stock worth $300,000 after buying an additional 1,500 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Array Biopharma by 48.7% in the first quarter. Goldman Sachs Group Inc. now owns 568,890 shares of the biopharmaceutical company’s stock worth $1,679,000 after buying an additional 186,220 shares during the period. Spark Investment Management LLC increased its position in shares of Array Biopharma by 2,415.5% in the first quarter. Spark Investment Management LLC now owns 550,900 shares of the biopharmaceutical company’s stock worth $1,625,000 after buying an additional 529,000 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Array Biopharma by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,441,224 shares of the biopharmaceutical company’s stock worth $10,152,000 after buying an additional 16,313 shares during the period. 88.58% of the stock is currently owned by institutional investors.

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).

5 Day Chart for NASDAQ:ARRY

To view Vetr’s full report, visit Vetr’s official website.

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