Array Biopharma Inc (ARRY) Given Consensus Rating of “Buy” by Brokerages

Shares of Array Biopharma Inc (NASDAQ:ARRY) have been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.25.

ARRY has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Array Biopharma from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. ValuEngine raised Array Biopharma from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Leerink Swann raised Array Biopharma from a “market perform” rating to an “outperform” rating in a report on Monday, January 22nd. Jefferies Group raised their price objective on Array Biopharma to $13.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Finally, BidaskClub lowered Array Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, March 21st.

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In other news, Director Charles M. Baum sold 50,000 shares of Array Biopharma stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $16.90, for a total value of $845,000.00. Following the sale, the director now directly owns 35,000 shares of the company’s stock, valued at $591,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victor Sandor sold 156,016 shares of Array Biopharma stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $17.71, for a total value of $2,763,043.36. The disclosure for this sale can be found here. Insiders sold 286,705 shares of company stock worth $4,851,885 over the last ninety days. Corporate insiders own 3.18% of the company’s stock.

Several large investors have recently modified their holdings of ARRY. BVF Inc. IL boosted its stake in shares of Array Biopharma by 35.7% in the fourth quarter. BVF Inc. IL now owns 8,686,498 shares of the biopharmaceutical company’s stock worth $111,187,000 after acquiring an additional 2,283,973 shares during the last quarter. BlackRock Inc. lifted its position in Array Biopharma by 12.6% during the fourth quarter. BlackRock Inc. now owns 15,252,802 shares of the biopharmaceutical company’s stock worth $195,236,000 after buying an additional 1,707,369 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in Array Biopharma by 172.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 2,112,438 shares of the biopharmaceutical company’s stock worth $27,039,000 after buying an additional 1,338,377 shares in the last quarter. Eversept Partners LLC purchased a new position in Array Biopharma during the fourth quarter worth approximately $15,844,000. Finally, Franklin Resources Inc. lifted its position in Array Biopharma by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 9,169,836 shares of the biopharmaceutical company’s stock worth $117,374,000 after buying an additional 979,072 shares in the last quarter. 96.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ARRY opened at $14.71 on Thursday. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.39. Array Biopharma has a 12 month low of $6.73 and a 12 month high of $18.78. The company has a market capitalization of $3,118.70, a price-to-earnings ratio of -20.43 and a beta of 1.73.

Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. Array Biopharma had a negative return on equity of 107.79% and a negative net margin of 98.51%. The company had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. During the same period last year, the company earned ($0.14) earnings per share. Array Biopharma’s quarterly revenue was down 5.2% compared to the same quarter last year. research analysts anticipate that Array Biopharma will post -0.88 earnings per share for the current year.

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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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