Array BioPharma Inc. (NASDAQ:ARRY) has been given a consensus recommendation of “Buy” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $13.36.
Several equities analysts recently weighed in on the stock. Cowen and Company 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 shares of Array BioPharma from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 price target on shares of Array BioPharma in a research report on Tuesday, September 26th. Piper Jaffray Companies reissued an “overweight” rating and issued a $18.00 price target (up previously from $14.00) on shares of Array BioPharma in a research report on Wednesday, September 20th. Finally, Zacks Investment Research lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th.
Shares of Array BioPharma (ARRY) opened at 11.71 on Thursday. The stock’s market cap is $2.01 billion. The stock has a 50 day moving average of $11.37 and a 200 day moving average of $9.06. Array BioPharma has a one year low of $5.36 and a one year high of $13.40.
Array BioPharma (NASDAQ:ARRY) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. Array BioPharma had a negative net margin of 77.44% and a negative return on equity of 1,187.18%. The company had revenue of $33.80 million during the quarter, compared to analysts’ expectations of $28.64 million. The business’s revenue for the quarter was down 21.8% on a year-over-year basis. During the same period last year, the company posted ($0.17) earnings per share. Equities analysts expect that Array BioPharma will post ($0.99) EPS for the current fiscal year.
In other Array BioPharma news, Director Kyle Lefkoff sold 38,865 shares of Array BioPharma stock in a transaction on Friday, September 29th. The shares were sold at an average price of $12.31, for a total transaction of $478,428.15. Following the sale, the director now owns 51,585 shares in the company, valued at $635,011.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.18% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ARRY. Quantitative Systematic Strategies LLC boosted its stake in Array BioPharma by 9.6% during the second quarter. Quantitative Systematic Strategies LLC now owns 12,568 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 1,103 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Array BioPharma by 8.3% during the second quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 972 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Array BioPharma during the second quarter worth $110,000. Ameritas Investment Partners Inc. boosted its stake in shares of Array BioPharma by 7.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 1,012 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Array BioPharma in the 1st quarter valued at $142,000. Hedge funds and other institutional investors own 85.64% 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).
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