Array BioPharma Inc. (NASDAQ:ARRY) shares traded down 3.8% during mid-day trading on Tuesday . The stock traded as low as $3.51 and last traded at $3.51, with a volume of 1,603,929 shares. The stock had previously closed at $3.65.

Several research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Array BioPharma in a research report on Wednesday, May 4th. Leerink Swann reissued a “buy” rating and issued a $6.00 target price on shares of Array BioPharma in a research report on Thursday, May 5th. Jefferies Group reissued a “buy” rating on shares of Array BioPharma in a research report on Wednesday, May 4th. 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 report on Tuesday, July 5th. Finally, SunTrust Banks Inc. initiated coverage on Array BioPharma in a research report on Thursday, June 2nd. They issued a “buy” rating and a $7.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.50.

The company’s 50 day moving average is $3.75 and its 200-day moving average is $3.24. The company’s market capitalization is $503.47 million.

Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by $0.02. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The business earned $43.20 million during the quarter, compared to the consensus estimate of $41.51 million. Array BioPharma’s revenue for the quarter was up 251.2% compared to the same quarter last year. On average, analysts predict that Array BioPharma Inc. will post ($0.68) earnings per share for the current year.

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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