Cantor Fitzgerald set a $15.00 target price on Array BioPharma Inc. (NASDAQ:ARRY) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the biopharmaceutical company’s stock.
ARRY has been the subject of a number of other research reports. Piper Jaffray Companies reiterated an overweight rating and set a $18.00 price objective (up previously from $14.00) on shares of Array BioPharma in a research report on Wednesday, September 20th. Stifel Nicolaus reiterated a buy rating and set a $15.00 price objective (up previously from $13.00) on shares of Array BioPharma in a research report on Monday, September 11th. J P Morgan Chase & Co reiterated a buy rating and set a $14.00 price objective on shares of Array BioPharma in a research report on Monday, September 11th. Cowen and Company reiterated an outperform rating and set a $15.00 price objective (up previously from $14.00) on shares of Array BioPharma in a research report on Monday, September 11th. Finally, BidaskClub upgraded Array BioPharma from a strong sell rating to a sell rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $13.65.
Array BioPharma (ARRY) traded up $0.66 on Tuesday, reaching $11.13. The company’s stock had a trading volume of 1,640,262 shares, compared to its average volume of 3,010,000. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 3.88. Array BioPharma has a 12-month low of $5.58 and a 12-month high of $13.40.
Array BioPharma (NASDAQ:ARRY) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.22). The firm had revenue of $29.75 million during the quarter, compared to the consensus estimate of $33.74 million. Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The firm’s revenue for the quarter was down 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.20) earnings per share. analysts predict 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 firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $12.31, for a total transaction of $478,428.15. Following the completion of the sale, the director now owns 51,585 shares of the company’s stock, valued at $635,011.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.18% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Quantitative Systematic Strategies LLC boosted its stake in Array BioPharma by 9.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 12,568 shares of the biopharmaceutical company’s stock valued at $106,000 after acquiring an additional 1,103 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Array BioPharma by 8.3% in the second quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 972 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Array BioPharma in the second quarter valued at approximately $110,000. Ameritas Investment Partners Inc. boosted its stake in Array BioPharma by 7.2% in the second quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Array BioPharma in the third quarter valued at approximately $146,000. 85.61% of the stock is currently owned by hedge funds and other institutional investors.
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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