Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Array BioPharma (ARRY) Share Price

News stories about Array BioPharma (NASDAQ:ARRY) have trended somewhat positive on Thursday, according to Accern Sentiment. The research firm ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Array BioPharma earned a coverage optimism score of 0.12 on Accern’s scale. Accern also assigned news coverage about the biopharmaceutical company an impact score of 44.9855267461971 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:

Array BioPharma (NASDAQ:ARRY) traded up $0.22 during trading on Thursday, reaching $10.80. 1,891,939 shares of the company’s stock traded hands, compared to its average volume of 3,841,686. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 5.43. Array BioPharma has a 52-week low of $6.73 and a 52-week high of $13.40.

Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.22). The firm had revenue of $29.75 million during the quarter, compared to analyst estimates of $33.74 million. Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The company’s revenue was down 24.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.20) EPS. analysts forecast that Array BioPharma will post -0.99 earnings per share for the current year.

A number of research firms recently commented on ARRY. Piper Jaffray Companies reaffirmed a “buy” rating and set a $14.00 price target on shares of Array BioPharma in a research report on Thursday, August 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 price target on shares of Array BioPharma in a research report on Thursday, August 10th. Cantor Fitzgerald set a $13.00 target price on shares of Array BioPharma and gave the company a “buy” rating in a report on Wednesday, August 9th. Jefferies Group set a $9.00 target price on shares of Array BioPharma and gave the company a “buy” rating in a report on Friday, August 25th. Finally, J P Morgan Chase & Co reissued a “buy” rating and issued a $14.00 target price on shares of Array BioPharma in a report on Monday, September 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Array BioPharma currently has a consensus rating of “Buy” and a consensus target price of $13.65.

In other 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 value of $478,428.15. Following the completion of the sale, the director now owns 51,585 shares in the company, valued at approximately $635,011.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.18% of the company’s stock.

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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).

Insider Buying and Selling by Quarter for Array BioPharma (NASDAQ:ARRY)

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