Array BioPharma Inc. (NASDAQ:ARRY)‘s stock had its “buy” rating reiterated by stock analysts at Stifel Nicolaus in a report issued on Monday. They currently have a $15.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $13.00. Stifel Nicolaus’ price objective would indicate a potential upside of 50.45% from the company’s previous close.
ARRY has been the subject of a number of other research reports. Piper Jaffray Companies set a $14.00 price target on shares of Array BioPharma and gave the company a “buy” rating in a research note on Wednesday, May 31st. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price target (up previously from $13.00) on shares of Array BioPharma in a research note on Friday, September 8th. Jefferies Group LLC set a $9.00 price target on shares of Array BioPharma and gave the company a “buy” rating in a research note on Friday, August 25th. BidaskClub lowered shares of Array BioPharma from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.65.
Array BioPharma (NASDAQ ARRY) opened at 9.97 on Monday. Array BioPharma has a 52-week low of $3.42 and a 52-week high of $13.40. The company’s market cap is $1.71 billion. The company has a 50-day moving average of $8.80 and a 200-day moving average of $8.81.
Array BioPharma (NASDAQ:ARRY) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.04. The company had revenue of $33.80 million for the quarter, compared to the consensus estimate of $28.64 million. Array BioPharma had a negative net margin of 77.44% and a negative return on equity of 1,187.18%. Array BioPharma’s quarterly revenue was down 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. On average, equities research analysts expect that Array BioPharma will post ($0.99) earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of ARRY. BlackRock Inc. grew its stake in shares of Array BioPharma by 38,275.2% in the 1st quarter. BlackRock Inc. now owns 12,869,137 shares of the biopharmaceutical company’s stock worth $115,049,000 after acquiring an additional 12,835,602 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Array BioPharma by 56.8% in the 1st quarter. Vanguard Group Inc. now owns 16,993,415 shares of the biopharmaceutical company’s stock worth $151,921,000 after acquiring an additional 6,156,120 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Array BioPharma by 48.4% in the 2nd quarter. Franklin Resources Inc. now owns 8,950,982 shares of the biopharmaceutical company’s stock worth $74,920,000 after acquiring an additional 2,918,156 shares in the last quarter. State Street Corp grew its stake in shares of Array BioPharma by 28.6% in the 1st quarter. State Street Corp now owns 8,264,775 shares of the biopharmaceutical company’s stock worth $73,882,000 after acquiring an additional 1,837,047 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Array BioPharma by 149.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,240 shares of the biopharmaceutical company’s stock worth $9,711,000 after acquiring an additional 651,057 shares in the last quarter. Hedge funds and other institutional investors own 97.60% 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).
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