Array BioPharma Inc. (ARRY) Receives Consensus Rating of “Buy” from Analysts

Array BioPharma Inc. (NASDAQ:ARRY) has earned an average recommendation of “Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $16.43.

A number of equities analysts recently issued reports on the stock. Leerink Swann upped their price objective on shares of Array BioPharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Stifel Nicolaus upped their price objective on shares of Array BioPharma from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. SunTrust Banks reiterated a “buy” rating and set a $20.00 price objective on shares of Array BioPharma in a research report on Tuesday, February 6th. Finally, Cantor Fitzgerald set a $15.00 price objective on shares of Array BioPharma and gave the stock a “buy” rating in a research report on Wednesday, January 3rd.

In other Array BioPharma news, COO Andrew R. Robbins sold 282,874 shares of the company’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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ron Squarer sold 819,671 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $10.86, for a total transaction of $8,901,627.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,181,545 shares of company stock valued at $13,160,221. Corporate 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. Nationwide Fund Advisors increased its position in Array BioPharma by 12.8% in the 2nd quarter. Nationwide Fund Advisors now owns 125,993 shares of the biopharmaceutical company’s stock valued at $1,055,000 after acquiring an additional 14,254 shares during the period. New York State Common Retirement Fund increased its position in Array BioPharma by 6.4% in the 2nd quarter. New York State Common Retirement Fund now owns 195,300 shares of the biopharmaceutical company’s stock valued at $1,635,000 after acquiring an additional 11,699 shares during the period. Northern Trust Corp increased its position in Array BioPharma by 8.5% in the 2nd quarter. Northern Trust Corp now owns 2,130,493 shares of the biopharmaceutical company’s stock valued at $17,832,000 after acquiring an additional 166,031 shares during the period. Voya Investment Management LLC increased its position in Array BioPharma by 20.4% in the 2nd quarter. Voya Investment Management LLC now owns 80,175 shares of the biopharmaceutical company’s stock valued at $671,000 after acquiring an additional 13,602 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its position in Array BioPharma by 9.5% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 89,300 shares of the biopharmaceutical company’s stock valued at $747,000 after acquiring an additional 7,745 shares during the period. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Shares of Array BioPharma (NASDAQ ARRY) opened at $17.19 on Wednesday. Array BioPharma has a twelve month low of $6.73 and a twelve month high of $18.24. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.39. The firm has a market cap of $3,525.67, a P/E ratio of -22.32 and a beta of 2.04.

Array BioPharma (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.06. The company had revenue of $42.21 million during the quarter, compared to the consensus estimate of $26.81 million. Array BioPharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) EPS. research analysts forecast that Array BioPharma will post -0.87 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Array BioPharma Inc. (ARRY) Receives Consensus Rating of “Buy” from Analysts” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/02/21/array-biopharma-inc-arry-receives-consensus-rating-of-buy-from-analysts.html.

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)

Receive News & Ratings for Array BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply