Array BioPharma Inc. (NASDAQ:ARRY) shares were down 1.7% on Tuesday . The stock traded as low as $3.39 and last traded at $3.39, with a volume of 866,780 shares traded. The stock had previously closed at $3.45.

A number of research analysts recently commented on ARRY shares. Stifel Nicolaus boosted their price objective on shares of Array BioPharma from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research raised shares of Array BioPharma from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Tuesday, July 5th. Leerink Swann reaffirmed a “buy” rating on shares of Array BioPharma in a research report on Monday, June 20th. Cantor Fitzgerald reissued a “buy” rating on shares of Array BioPharma in a research report on Wednesday, June 8th. Finally, SunTrust Banks Inc. began coverage on shares of 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $7.50.

The firm has a 50 day moving average price of $3.72 and a 200 day moving average price of $3.25. The stock’s market capitalization is $463.31 million.

Array BioPharma (NASDAQ:ARRY) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $43.20 million for the quarter, compared to analyst estimates of $41.51 million. During the same quarter last year, the company earned ($0.09) EPS. Array BioPharma’s revenue for the quarter was up 251.2% compared to the same quarter last year. On average, equities analysts anticipate that Array BioPharma Inc. will post ($0.68) EPS for the current fiscal 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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