Jefferies Group Raises Array BioPharma (ARRY) Price Target to $13.00

Array BioPharma (NASDAQ:ARRY) had its price objective hoisted by Jefferies Group to $13.00 in a research note published on Friday. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. reiterated a buy rating and issued a $14.00 price objective on shares of Array BioPharma in a report on Monday, September 11th. Cantor Fitzgerald set a $15.00 price objective on Array BioPharma and gave the company a buy rating in a report on Tuesday, October 31st. Stifel Nicolaus reiterated a buy rating on shares of Array BioPharma in a report on Wednesday, November 1st. SunTrust Banks reiterated a buy rating and issued a $16.00 price objective on shares of Array BioPharma in a report on Wednesday, November 1st. Finally, BidaskClub upgraded Array BioPharma from a strong sell rating to a sell rating in a report on Friday, August 25th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Array BioPharma presently has an average rating of Buy and a consensus target price of $14.10.

Shares of Array BioPharma (NASDAQ:ARRY) opened at $12.27 on Friday. The company has a market capitalization of $2,206.71, a PE ratio of -16.58 and a beta of 1.92. The company has a quick ratio of 5.43, a current ratio of 5.43 and a debt-to-equity ratio of 0.54. Array BioPharma has a fifty-two week low of $6.73 and a fifty-two week high of $13.40.

Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, meeting analysts’ consensus estimates of ($0.22). The business 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 was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) earnings per share. equities analysts expect that Array BioPharma will post -0.99 EPS for the current fiscal year.

In other Array BioPharma news, 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 value of $8,901,627.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kyle Lefkoff sold 38,865 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $12.31, for a total value of $478,428.15. Following the completion of the transaction, the director now directly owns 51,585 shares of the company’s stock, valued at $635,011.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,141,410 shares of company stock valued at $12,412,464. Insiders own 3.18% of the company’s stock.

A number of large investors have recently bought and sold shares of ARRY. Russell Investments Group Ltd. boosted its position in shares of Array BioPharma by 19.0% during the second quarter. Russell Investments Group Ltd. now owns 157,040 shares of the biopharmaceutical company’s stock worth $1,315,000 after buying an additional 25,118 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Array BioPharma by 52.0% during the second quarter. Janney Montgomery Scott LLC now owns 24,250 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 8,300 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Array BioPharma by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 731,187 shares of the biopharmaceutical company’s stock worth $6,121,000 after buying an additional 6,318 shares during the period. First Trust Advisors LP acquired a new position in shares of Array BioPharma during the second quarter worth about $1,874,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Array BioPharma by 8.3% during the second quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 972 shares during the period. 98.13% of the stock is owned by hedge funds and other institutional investors.

WARNING: This report was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another site, it was illegally copied and reposted in violation of US and international trademark and copyright law. The correct version of this report can be viewed at https://www.com-unik.info/2017/12/25/jefferies-group-raises-array-biopharma-arry-price-target-to-13-00.html.

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)

Receive News & Ratings for Array BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit