Array BioPharma Inc. (ARRY) Given New $15.00 Price Target at Cantor Fitzgerald

Array BioPharma Inc. (NASDAQ:ARRY) had its price objective hoisted by Cantor Fitzgerald from $13.00 to $15.00 in a research note published on Monday. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Array BioPharma from a hold rating to a sell rating in a research note on Tuesday, July 11th. Jefferies Group LLC set a $9.00 target price on Array BioPharma and gave the stock a buy rating in a research note on Friday, August 25th. J P Morgan Chase & Co reaffirmed a buy rating and set a $14.00 target price on shares of Array BioPharma in a research note on Monday. BidaskClub raised Array BioPharma from a strong sell rating to a sell rating in a research note on Thursday, June 22nd. Finally, ValuEngine raised Array BioPharma from a sell rating to a hold rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Array BioPharma presently has a consensus rating of Buy and a consensus price target of $12.65.

Array BioPharma (NASDAQ ARRY) opened at 10.80 on Monday. The company’s market cap is $1.85 billion. Array BioPharma has a 12-month low of $3.45 and a 12-month high of $13.40. The stock’s 50 day moving average price is $9.03 and its 200 day moving average price is $8.83.

Array BioPharma (NASDAQ:ARRY) last released 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 return on equity of 1,187.18% and a negative net margin of 77.44%. The business had revenue of $33.80 million during the quarter, compared to analysts’ expectations of $28.64 million. During the same quarter last year, the firm posted ($0.17) earnings per share. The firm’s revenue was down 21.8% on a year-over-year basis. Equities research analysts anticipate that Array BioPharma will post ($0.99) EPS for the current year.

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A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Array BioPharma by 15.5% in the second quarter. Vanguard Group Inc. now owns 19,622,890 shares of the biopharmaceutical company’s stock valued at $164,243,000 after acquiring an additional 2,629,475 shares during the period. BlackRock Inc. grew its stake in Array BioPharma by 1.0% in the second quarter. BlackRock Inc. now owns 12,994,700 shares of the biopharmaceutical company’s stock valued at $108,765,000 after acquiring an additional 125,563 shares during the period. State Street Corp grew its stake in Array BioPharma by 15.5% in the second quarter. State Street Corp now owns 9,544,525 shares of the biopharmaceutical company’s stock valued at $79,890,000 after acquiring an additional 1,279,750 shares during the period. Franklin Resources Inc. grew its stake in Array BioPharma by 48.4% in the second quarter. Franklin Resources Inc. now owns 8,950,982 shares of the biopharmaceutical company’s stock valued at $74,920,000 after acquiring an additional 2,918,156 shares during the period. Finally, Northern Trust Corp grew its stake in Array BioPharma by 8.5% in the second 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. 97.60% of the stock is owned by hedge funds and other institutional investors.

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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