Array BioPharma Inc. (NASDAQ:ARRY) has received an average recommendation of “Buy” from the twelve analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.49.

ARRY has been the topic of a number of recent research reports. Cowen reaffirmed an “outperform” rating and set a $15.00 price objective (up previously from $14.00) on shares of Array BioPharma in a research report on Monday, September 11th. BidaskClub raised Array BioPharma from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price objective on shares of Array BioPharma in a research report on Tuesday, September 26th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $18.00 price objective (up previously from $14.00) on shares of Array BioPharma in a research report on Wednesday, September 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Array BioPharma in a research report on Wednesday, November 1st.

In other Array BioPharma news, Director Kyle Lefkoff sold 38,865 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $12.31, for a total value of $478,428.15. Following the completion of the sale, the director now directly owns 51,585 shares in the company, valued at $635,011.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.18% of the company’s stock.

Several large investors have recently made changes to their positions in ARRY. Bank of America Corp DE raised its stake in shares of Array BioPharma by 663.8% in the first quarter. Bank of America Corp DE now owns 284,986 shares of the biopharmaceutical company’s stock worth $2,549,000 after purchasing an additional 247,672 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Array BioPharma by 10,802.4% in the second quarter. Bank of Montreal Can now owns 164,408 shares of the biopharmaceutical company’s stock worth $1,376,000 after purchasing an additional 162,900 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Array BioPharma by 19.0% in the second quarter. Russell Investments Group Ltd. now owns 157,040 shares of the biopharmaceutical company’s stock worth $1,315,000 after purchasing an additional 25,118 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Array BioPharma by 52.0% in the second quarter. Janney Montgomery Scott LLC now owns 24,250 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 8,300 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Array BioPharma by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 731,187 shares of the biopharmaceutical company’s stock worth $6,121,000 after purchasing an additional 6,318 shares during the last quarter. Hedge funds and other institutional investors own 98.16% of the company’s stock.

Array BioPharma (NASDAQ:ARRY) opened at $10.80 on Friday. Array BioPharma has a 12-month low of $6.73 and a 12-month 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 posted its quarterly 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). Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The business had revenue of $29.75 million for the quarter, compared to the consensus estimate of $33.74 million. During the same quarter in the prior year, the company earned ($0.20) EPS. The business’s revenue was down 24.2% compared to the same quarter last year. sell-side analysts anticipate that Array BioPharma will post -0.99 earnings per share for the current year.

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About Array BioPharma

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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