Research Analysts’ Recent Ratings Updates for Array Biopharma (ARRY)

A number of research firms have changed their ratings and price targets for Array Biopharma (NASDAQ: ARRY):

  • 10/31/2018 – Array Biopharma was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat life threatening and debilitating diseases. The company’s proprietary drug development pipeline is focused on the treatment of cancer and inflammatory disease and includes clinical candidates that are designed to regulate therapeutically important targets. In addition, leading pharmaceutical and biotechnology companies collaborate with Array to discover and develop drug candidates across a broad range of therapeutic areas. “
  • 10/31/2018 – Array Biopharma was given a new $22.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 10/18/2018 – Array Biopharma was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 10/16/2018 – Array Biopharma was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat life threatening and debilitating diseases. The company’s proprietary drug development pipeline is focused on the treatment of cancer and inflammatory disease and includes clinical candidates that are designed to regulate therapeutically important targets. In addition, leading pharmaceutical and biotechnology companies collaborate with Array to discover and develop drug candidates across a broad range of therapeutic areas. “
  • 10/11/2018 – Array Biopharma was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/7/2018 – Array Biopharma was given a new $22.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 9/17/2018 – Array Biopharma is now covered by analysts at Guggenheim. They set a “buy” rating on the stock.

ARRY traded down $0.25 during midday trading on Monday, reaching $16.22. 211,814 shares of the company were exchanged, compared to its average volume of 3,111,675. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.60. Array Biopharma Inc has a one year low of $10.21 and a one year high of $20.21. The stock has a market cap of $3.51 billion, a P/E ratio of -22.22 and a beta of 1.11.

Array Biopharma (NASDAQ:ARRY) last issued its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.10. Array Biopharma had a negative return on equity of 74.02% and a negative net margin of 66.77%. The firm had revenue of $56.91 million for the quarter, compared to analysts’ expectations of $34.47 million. During the same quarter last year, the business earned ($0.22) earnings per share. The company’s revenue was up 91.3% compared to the same quarter last year. As a group, equities analysts forecast that Array Biopharma Inc will post -0.66 EPS for the current year.

In other Array Biopharma news, CFO Jason Haddock sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $13.92, for a total transaction of $278,400.00. Following the transaction, the chief financial officer now owns 35,393 shares in the company, valued at $492,670.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lunsen Gil J. Van sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $14.76, for a total value of $265,680.00. Following the transaction, the director now owns 37,297 shares in the company, valued at approximately $550,503.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,687 shares of company stock worth $693,066. Company insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARRY. CIBC Private Wealth Group LLC acquired a new stake in shares of Array Biopharma during the second quarter worth about $101,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Array Biopharma by 107.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,614 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 4,470 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Array Biopharma during the third quarter worth about $164,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Array Biopharma during the second quarter worth about $191,000. Finally, Royal Bank of Canada raised its position in shares of Array Biopharma by 266.7% during the first quarter. Royal Bank of Canada now owns 12,874 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 9,363 shares during the period. 92.56% of the stock is currently owned by institutional investors.

Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.

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