Array BioPharma Inc. (ARRY) Sees Unusually-High Trading Volume
Array BioPharma Inc. (NASDAQ:ARRY) saw unusually-strong trading volume on Monday . Approximately 1,301,813 shares changed hands during trading, an increase of 26% from the previous session’s volume of 1,032,775 shares.The stock last traded at $4.04 and had previously closed at $3.74.
Several analysts have commented on ARRY shares. Leerink Swann reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Array BioPharma in a research note on Thursday, May 19th. Cantor Fitzgerald reissued a “buy” rating on shares of Array BioPharma in a research note on Wednesday, May 4th. SunTrust Banks Inc. began coverage on Array BioPharma in a research note on Thursday, June 2nd. They set a “buy” rating and a $7.00 target price for the company. Zacks Investment Research raised Array BioPharma from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Tuesday, July 5th. Finally, Jefferies Group reissued a “buy” rating on shares of Array BioPharma in a research note on Wednesday, May 4th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $7.40.
The stock’s market cap is $605.31 million. The firm has a 50 day moving average price of $3.58 and a 200-day moving average price of $3.18.
Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.04. The company earned $43 million during the quarter, compared to analyst estimates of $30.35 million. During the same period last year, the business earned $0.37 EPS. The business’s quarterly revenue was up 552.1% on a year-over-year basis. On average, equities analysts expect 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 boosted its position in Array BioPharma Inc. (NASDAQ:ARRY) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 0.18% of Array BioPharma worth $1,103,000 as of its most recent SEC filing.
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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