Brokerages Set Array BioPharma Inc. (ARRY) PT at $15.11

Array BioPharma Inc. (NASDAQ:ARRY) has been given a consensus rating of “Buy” by the twelve analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $15.11.

A number of equities analysts have weighed in on ARRY shares. Cantor Fitzgerald set a $15.00 target price on shares of Array BioPharma and gave the company a “buy” rating in a research note on Tuesday, October 31st. Stifel Nicolaus reissued a “buy” rating on shares of Array BioPharma in a research report on Wednesday, November 1st. SunTrust Banks reissued a “buy” rating and set a $16.00 price target on shares of Array BioPharma in a research report on Wednesday, November 1st. BidaskClub downgraded shares of Array BioPharma from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. Finally, Jefferies Group raised their price target on shares of Array BioPharma to $13.00 and gave the company a “buy” rating in a research report on Friday, December 22nd.

In related news, COO Andrew R. Robbins sold 282,874 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jason Haddock sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $13.73, for a total transaction of $102,975.00. Following the completion of the sale, the chief financial officer now owns 36,368 shares in the company, valued at approximately $499,332.64. The disclosure for this sale can be found here. Insiders have sold 1,131,545 shares of company stock valued at $12,315,221 in the last three months. 3.18% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. Fox Run Management L.L.C. purchased a new stake in Array BioPharma in the third quarter worth approximately $146,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Array BioPharma in the second quarter worth approximately $110,000. Edge Wealth Management LLC purchased a new stake in Array BioPharma in the third quarter worth approximately $185,000. Ameritas Investment Partners Inc. boosted its holdings in Array BioPharma by 7.2% in the second quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Array BioPharma by 803.5% in the third quarter. Quantbot Technologies LP now owns 18,205 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 16,190 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

Shares of Array BioPharma (NASDAQ ARRY) traded down $0.48 during midday trading on Friday, hitting $14.59. 3,041,955 shares of the company’s stock were exchanged, compared to its average volume of 4,601,130. Array BioPharma has a fifty-two week low of $6.73 and a fifty-two week high of $16.36. The company has a market capitalization of $2,830.00, a P/E ratio of -19.39 and a beta of 1.91. The company has a quick ratio of 5.43, a current ratio of 5.43 and a debt-to-equity ratio of 0.54.

Array BioPharma (NASDAQ:ARRY) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.22). Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The business had revenue of $29.75 million during the quarter, compared to the consensus estimate of $33.74 million. During the same quarter last year, the firm earned ($0.20) earnings per share. The business’s revenue for the quarter was down 24.2% on a year-over-year basis. research analysts forecast 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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