Array BioPharma Inc. (ARRY) Trading 9.8% Higher
Array BioPharma Inc. (NASDAQ:ARRY) traded up 9.8% during mid-day trading on Thursday . The stock traded as high as $4.51 and last traded at $4.50, with a volume of 2,512,693 shares. The stock had previously closed at $4.10.
Several equities research analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Array BioPharma from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday. SunTrust Banks Inc. assumed coverage on Array BioPharma in a report on Thursday, June 2nd. They set a “buy” rating and a $7.00 price objective on the stock. Cantor Fitzgerald restated a “buy” rating on shares of Array BioPharma in a report on Wednesday, June 8th. Zacks Investment Research upgraded Array BioPharma from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Tuesday, July 5th. Finally, Leerink Swann reiterated a “buy” rating on shares of Array BioPharma in a report on Monday, June 20th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $7.60.
The company has a 50-day moving average price of $3.69 and a 200 day moving average price of $3.21. The company’s market capitalization is $651.21 million.
Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by $0.02. During the same period in the previous year, the business posted ($0.09) EPS. The firm earned $43.20 million during the quarter, compared to the consensus estimate of $41.51 million. The business’s quarterly revenue was up 251.2% compared to the same quarter last year. Analysts anticipate that Array BioPharma Inc. will post ($0.63) earnings per share for the current year.
A hedge fund recently raised its stake in Array BioPharma stock. California State Teachers Retirement System increased its stake in Array BioPharma Inc. (NASDAQ:ARRY) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the SEC.
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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