Array Biopharma Inc (ARRY) Given Consensus Rating of “Buy” by Analysts

Array Biopharma Inc (NASDAQ:ARRY) has earned an average recommendation of “Buy” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $26.38.

ARRY has been the topic of a number of recent analyst reports. Cantor Fitzgerald set a $30.00 price objective on Array Biopharma and gave the stock a “buy” rating in a research note on Tuesday, February 5th. Zacks Investment Research lowered Array Biopharma from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. BidaskClub raised Array Biopharma from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. Piper Jaffray Companies reaffirmed a “positive” rating and issued a $28.00 price objective on shares of Array Biopharma in a research note on Tuesday, January 15th. Finally, Leerink Swann initiated coverage on Array Biopharma in a research note on Thursday, January 17th. They issued an “outperform” rating and a $28.00 price objective on the stock.

In other news, insider Nicholas A. Saccomano sold 187,264 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $21.58, for a total transaction of $4,041,157.12. Following the completion of the sale, the insider now owns 224,988 shares in the company, valued at $4,855,241.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Curtis Gale Oltmans sold 14,029 shares of the business’s stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $18.00, for a total value of $252,522.00. Following the sale, the general counsel now owns 17,950 shares of the company’s stock, valued at approximately $323,100. The disclosure for this sale can be found here. Over the last quarter, insiders sold 936,069 shares of company stock valued at $19,030,369. 2.10% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. American International Group Inc. lifted its position in shares of Array Biopharma by 0.4% during the 4th quarter. American International Group Inc. now owns 135,789 shares of the biopharmaceutical company’s stock valued at $1,935,000 after buying an additional 520 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Array Biopharma by 1.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 100,714 shares of the biopharmaceutical company’s stock valued at $1,435,000 after buying an additional 1,710 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Array Biopharma by 39.2% during the 4th quarter. Advisor Group Inc. now owns 6,105 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 1,720 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Array Biopharma by 635.8% during the 4th quarter. Meeder Asset Management Inc. now owns 2,097 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 1,812 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Array Biopharma by 47.3% during the 4th quarter. Bank of Montreal Can now owns 5,879 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 1,888 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors.

Shares of ARRY stock opened at $22.39 on Monday. Array Biopharma has a 12 month low of $12.56 and a 12 month high of $25.05. The stock has a market cap of $4.89 billion, a PE ratio of -30.67 and a beta of 1.48. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.46.

Array Biopharma (NASDAQ:ARRY) last announced its quarterly earnings results on Tuesday, February 5th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.11. Array Biopharma had a negative return on equity of 44.37% and a negative net margin of 46.20%. The firm had revenue of $82.55 million for the quarter, compared to analyst estimates of $52.44 million. During the same period last year, the firm posted ($0.17) earnings per share. The business’s revenue for the quarter was up 95.5% on a year-over-year basis. Equities analysts predict that Array Biopharma will post -0.62 EPS for the current year.

About Array Biopharma

Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.

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