Shares of Array BioPharma Inc. (NASDAQ:ARRY) have earned a consensus rating of “Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $13.36.

A number of equities research analysts have issued reports on ARRY shares. Jefferies Group LLC set a $9.00 price target on Array BioPharma and gave the company a “buy” rating in a research report on Friday, August 25th. Piper Jaffray Companies reissued a “buy” rating and set a $14.00 price target on shares of Array BioPharma in a research report on Thursday, August 10th. Cantor Fitzgerald set a $13.00 price target on Array BioPharma and gave the company a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and set a $13.00 price target on shares of Array BioPharma in a research report on Thursday, August 10th. Finally, J P Morgan Chase & Co reissued a “buy” rating and set a $14.00 price target on shares of Array BioPharma in a research report on Monday, September 11th.

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Array BioPharma (NASDAQ ARRY) opened at 11.32 on Friday. The stock has a 50 day moving average price of $9.34 and a 200 day moving average price of $8.78. Array BioPharma has a 52 week low of $3.45 and a 52 week high of $13.40. The firm’s market cap is $1.94 billion.

Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.04. Array BioPharma had a negative return on equity of 1,187.18% and a negative net margin of 77.44%. The firm had revenue of $33.80 million during the quarter, compared to the consensus estimate of $28.64 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The firm’s quarterly revenue was down 21.8% compared to the same quarter last year. Equities research analysts expect that Array BioPharma will post ($0.99) EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of ARRY. Russell Investments Group Ltd. lifted its stake in shares of Array BioPharma by 84.8% during the first quarter. Russell Investments Group Ltd. now owns 131,922 shares of the biopharmaceutical company’s stock worth $1,179,000 after purchasing an additional 60,527 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Array BioPharma by 77.0% during the first quarter. Great West Life Assurance Co. Can now owns 17,700 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 7,700 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Array BioPharma by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 842,076 shares of the biopharmaceutical company’s stock worth $7,528,000 after purchasing an additional 37,974 shares in the last quarter. Swiss National Bank lifted its stake in shares of Array BioPharma by 3.4% during the first quarter. Swiss National Bank now owns 250,000 shares of the biopharmaceutical company’s stock worth $2,235,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Array BioPharma during the first quarter worth about $181,000. Institutional investors own 97.59% 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).

Analyst Recommendations for Array BioPharma (NASDAQ:ARRY)

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