Array Biopharma (ARRY) Earning Somewhat Positive Press Coverage, Study Finds

Press coverage about Array Biopharma (NASDAQ:ARRY) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Array Biopharma earned a coverage optimism score of 0.13 on Accern’s scale. Accern also gave news stories about the biopharmaceutical company an impact score of 45.8003527834573 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:

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Array Biopharma (ARRY) opened at $18.05 on Friday. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.39. The firm has a market cap of $3,560.00, a PE ratio of -23.44 and a beta of 1.80. Array Biopharma has a fifty-two week low of $6.73 and a fifty-two week high of $18.78.

Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.06. The company had revenue of $42.21 million for the quarter, compared to the consensus estimate of $26.81 million. Array Biopharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) EPS. analysts predict that Array Biopharma will post -0.87 earnings per share for the current fiscal year.

ARRY has been the topic of a number of analyst reports. BidaskClub downgraded shares of Array Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Jefferies Group lifted their price objective on shares of Array Biopharma to $13.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Cantor Fitzgerald set a $15.00 price objective on shares of Array Biopharma and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Array Biopharma from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Array Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Array Biopharma currently has an average rating of “Buy” and a consensus price target of $16.43.

In related news, COO Andrew R. Robbins sold 282,874 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ron Squarer sold 819,671 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total transaction of $8,901,627.06. The disclosure for this sale can be found here. Insiders sold a total of 1,359,061 shares of company stock worth $16,292,205 over the last three months. 3.18% of the stock is owned by insiders.

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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).

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