Array Biopharma Inc (ARRY) Receives $16.43 Consensus Target Price from Brokerages

Shares of Array Biopharma Inc (NASDAQ:ARRY) have received an average recommendation of “Buy” from the twelve analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $16.43.

A number of research firms have recently weighed in on ARRY. Leerink Swann raised their price target on shares of Array Biopharma from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Zacks Investment Research upgraded shares of Array Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Stifel Nicolaus raised their price target on shares of Array Biopharma from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. BidaskClub downgraded shares of Array Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, SunTrust Banks restated a “buy” rating and issued a $20.00 price target on shares of Array Biopharma in a research note on Tuesday, February 6th.

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In related news, Director Charles M. Baum sold 50,000 shares of Array Biopharma stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $16.90, for a total transaction of $845,000.00. Following the sale, the director now directly owns 35,000 shares in the company, valued at approximately $591,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $2,763,043.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 256,516 shares of company stock worth $4,358,168. 3.18% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Array Biopharma by 12.6% during the 4th 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 during the period. Franklin Resources Inc. boosted its position in Array Biopharma by 12.0% during the 4th 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 during the period. Point72 Asset Management L.P. boosted its position in Array Biopharma by 274.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock worth $110,811,000 after buying an additional 6,602,999 shares during the period. BVF Inc. IL boosted its position in Array Biopharma by 35.7% during the 4th quarter. BVF Inc. IL now owns 8,686,498 shares of the biopharmaceutical company’s stock worth $111,187,000 after buying an additional 2,283,973 shares during the period. Finally, Driehaus Capital Management LLC boosted its position in Array Biopharma by 19.8% during the 4th quarter. Driehaus Capital Management LLC now owns 2,513,682 shares of the biopharmaceutical company’s stock worth $32,175,000 after buying an additional 416,277 shares during the period. Institutional investors and hedge funds own 96.41% of the company’s stock.

ARRY stock traded up $0.24 during mid-day trading on Friday, reaching $17.00. 1,099,585 shares of the company’s stock traded hands, compared to its average volume of 3,995,539. 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 52-week low of $6.73 and a 52-week high of $18.78. The company has a market cap of $3,413.55, a price-to-earnings ratio of -22.05 and a beta of 1.80.

Array Biopharma (NASDAQ:ARRY) last released its earnings results 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 net margin of 98.51% and a negative return on equity of 107.79%. The firm had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. During the same period last year, the firm earned ($0.14) EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. equities research analysts forecast that Array Biopharma will post -0.88 EPS for the current fiscal 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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