Array BioPharma Inc. (NASDAQ:ARRY)’s share price rose 4.9% during mid-day trading on Monday . The stock traded as high as $3.41 and last traded at $3.40, with a volume of 1,188,725 shares trading hands. The stock had previously closed at $3.24.

ARRY has been the subject of several analyst reports. Leerink Swann reissued an “outperform” rating and issued a $6.00 price objective on shares of Array BioPharma in a report on Thursday, May 19th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Array BioPharma in a report on Wednesday, May 4th. Zacks Investment Research cut Array BioPharma from a “buy” rating to a “hold” rating in a report on Monday, August 8th. SunTrust Banks Inc. assumed coverage on Array BioPharma in a report on Thursday, June 2nd. They issued a “buy” rating and a $7.00 price target for the company. Finally, Piper Jaffray Cos. set a $7.00 price target on Array BioPharma and gave the stock a “buy” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $7.50.

The stock’s market capitalization is $489.84 million. The company has a 50 day moving average of $3.74 and a 200-day moving average of $3.24.

Array BioPharma (NASDAQ:ARRY) last issued its quarterly earnings data 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. The business earned $43.20 million during the quarter, compared to the consensus estimate of $41.51 million. The business’s revenue was up 251.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. Equities research analysts anticipate 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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