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

Shares of Array BioPharma Inc. (NASDAQ:ARRY) have received an average rating of “Buy” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. One equities research 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. The average 1-year price target among brokers that have issued a report on the stock in the last year is $13.49.

A number of research analysts have recently commented on the company. Piper Jaffray Companies reiterated an “overweight” rating and set a $18.00 price target (up from $14.00) on shares of Array BioPharma in a report on Wednesday, September 20th. Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 price target on shares of Array BioPharma in a report on Tuesday, September 26th. Stifel Nicolaus reiterated a “buy” rating and set a $15.00 price target (up from $13.00) on shares of Array BioPharma in a report on Monday, September 11th. J P Morgan Chase & Co reiterated a “buy” rating and set a $14.00 price target on shares of Array BioPharma in a report on Monday, September 11th. Finally, Cowen and Company reiterated an “outperform” rating and set a $15.00 price target (up from $14.00) on shares of Array BioPharma in a report on Monday, September 11th.

Shares of Array BioPharma (ARRY) opened at $11.00 on Monday. Array BioPharma has a 1-year low of $6.54 and a 1-year high of $13.40. 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 (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, hitting analysts’ consensus estimates of ($0.22). Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The company had revenue of $29.75 million during the quarter, compared to analyst estimates of $33.74 million. During the same period in the previous year, the company earned ($0.20) earnings per share. The company’s quarterly revenue was down 24.2% compared to the same quarter last year. analysts anticipate that Array BioPharma will post -0.99 EPS for the current fiscal year.

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In other news, Director Kyle Lefkoff sold 38,865 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $12.31, for a total transaction of $478,428.15. Following the sale, the director now directly owns 51,585 shares in the company, valued at $635,011.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.18% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its position in Array BioPharma by 33.9% in the first quarter. Parametric Portfolio Associates LLC now owns 59,988 shares of the biopharmaceutical company’s stock valued at $536,000 after acquiring an additional 15,190 shares during the period. Prudential Financial Inc. grew its position in Array BioPharma by 3.5% in the first quarter. Prudential Financial Inc. now owns 17,377 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 590 shares during the period. Wellington Management Group LLP bought a new stake in Array BioPharma in the first quarter valued at $2,554,000. California Public Employees Retirement System grew its position in Array BioPharma by 3.9% in the first quarter. California Public Employees Retirement System now owns 255,000 shares of the biopharmaceutical company’s stock valued at $2,280,000 after acquiring an additional 9,500 shares during the period. Finally, Legal & General Group Plc grew its position in Array BioPharma by 37.3% in the first quarter. Legal & General Group Plc now owns 56,110 shares of the biopharmaceutical company’s stock valued at $500,000 after acquiring an additional 15,256 shares during the period. Institutional investors and hedge funds own 85.35% of the company’s stock.

Array BioPharma Company Profile

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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