Array BioPharma Inc. (NASDAQ:ARRY)’s share price rose 2.7% during mid-day trading on Wednesday . The company traded as high as $3.81 and last traded at $3.80, with a volume of 453,255 shares traded. The stock had previously closed at $3.70.

ARRY has been the topic of a number of recent research reports. Leerink Swann reiterated a “buy” rating and issued a $6.00 target price on shares of Array BioPharma in a report on Thursday, May 5th. Cantor Fitzgerald reiterated a “buy” rating on shares of Array BioPharma in a report on Wednesday, May 4th. Jefferies Group restated a “buy” rating on shares of Array BioPharma in a research note on Wednesday, May 4th. Piper Jaffray Cos. restated a “buy” rating on shares of Array BioPharma in a research note on Saturday, April 2nd. Finally, Zacks Investment Research upgraded Array BioPharma from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $7.40.

The firm’s market capitalization is $553.67 million. The stock’s 50 day moving average is $3.55 and its 200 day moving average is $3.17.

Array BioPharma (NASDAQ:ARRY) last posted its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.04. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm earned $43 million during the quarter, compared to analysts’ expectations of $30.35 million. The business’s revenue for the quarter was up 552.1% on a year-over-year basis. On average, equities research analysts predict that Array BioPharma Inc. will post ($0.62) earnings per share for the current year.

An institutional investor recently raised its position in Array BioPharma stock. California State Teachers Retirement System raised its stake in shares of Array BioPharma Inc. (NASDAQ:ARRY) by 1.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 261,431 shares of the biopharmaceutical company’s stock after buying an additional 4,700 shares during the period. California State Teachers Retirement System owned about 0.18% of Array BioPharma worth $1,103,000 at the end of the most recent reporting period.

Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer. The Company’s wholly owned clinical stage drugs include Filanesib in Phase II clinical trials, is indicated for Kinesin spindle protein (KSP), inhibitor for MM; ARRY-797 in Phase II clinical trials, indicated for p38 inhibitor for Lamin A/C-related dilated cardiomyopathy (LMNA-DCM); ARRY-502 in Phase II clinical trials, indicated for CRTh2 antagonist for asthma, and ARRY-614 in Phase I clinical trials, is indicated for p38/Tie2 dual inhibitor for myelodysplastic syndromes (MDS).

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