Array BioPharma (ARRY) Rating Lowered to Sell at BidaskClub

Array BioPharma (NASDAQ:ARRY) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

ARRY has been the topic of a number of other research reports. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 price target on shares of Array BioPharma in a research note on Tuesday, September 26th. Jefferies Group reissued a “buy” rating and issued a $9.00 price target on shares of Array BioPharma in a research note on Tuesday, September 12th. SunTrust Banks reissued a “buy” rating and issued a $16.00 price target on shares of Array BioPharma in a research note on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target on shares of Array BioPharma in a research note on Thursday, August 10th. Finally, J P Morgan Chase & Co reissued a “buy” rating and issued a $14.00 price target on shares of Array BioPharma in a research note on Monday, September 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Array BioPharma presently has an average rating of “Buy” and an average target price of $13.65.

Array BioPharma (NASDAQ ARRY) traded down $0.10 during trading hours on Friday, reaching $11.15. The company had a trading volume of 2,284,800 shares, compared to its average volume of 2,539,389. Array BioPharma has a 1 year low of $6.73 and a 1 year high of $13.40. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54.

Array BioPharma (NASDAQ:ARRY) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). The firm 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 in the previous year, the company earned ($0.20) earnings per share. sell-side analysts anticipate that Array BioPharma will post -0.99 earnings per share for the current fiscal year.

In other Array BioPharma 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 sale, the director now directly owns 51,585 shares in the company, valued at approximately $635,011.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ARRY. Teacher Retirement System of Texas boosted its position in Array BioPharma by 8.3% during the 2nd 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 period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Array BioPharma during the 2nd quarter worth about $110,000. Ameritas Investment Partners Inc. boosted its position in Array BioPharma by 7.2% during the 2nd 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 period. Fox Run Management L.L.C. acquired a new stake in Array BioPharma during the 3rd quarter worth about $146,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Array BioPharma by 71.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 18,317 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 7,661 shares during the period. Hedge funds and other institutional investors own 98.24% 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).

Analyst Recommendations for Array BioPharma (NASDAQ:ARRY)

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