Array Biopharma Inc (NASDAQ:ARRY) was upgraded by investment analysts at Vetr from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $9.99 target price on the biopharmaceutical company’s stock. Vetr‘s price target indicates a potential downside of 0.79% from the stock’s current price.

A number of other research firms also recently weighed in on ARRY. Zacks Investment Research raised shares of Array Biopharma from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Friday, January 13th. Leerink Swann downgraded shares of Array Biopharma from an “outperform” rating to a “market perform” rating and set a $11.00 price objective for the company. in a research report on Monday, January 30th. They noted that the move was a valuation call. Cantor Fitzgerald set a $13.00 price objective on shares of Array Biopharma and gave the company a “buy” rating in a research report on Thursday, February 9th. Cowen and Company decreased their price objective on shares of Array Biopharma to $14.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Stifel Nicolaus lifted their price objective on shares of Array Biopharma from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $11.20.

Analyst Recommendations for Array Biopharma (NASDAQ:ARRY)

Shares of Array Biopharma (NASDAQ:ARRY) traded down 4.64% on Monday, hitting $10.07. 15,174,315 shares of the stock were exchanged. The company has a 50-day moving average price of $11.20 and a 200-day moving average price of $8.17. Array Biopharma has a one year low of $2.60 and a one year high of $13.40. The firm’s market capitalization is $1.70 billion.

Array Biopharma (NASDAQ:ARRY) last released its earnings results on Thursday, February 9th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. The business earned $44.50 million during the quarter, compared to the consensus estimate of $31.90 million. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. Equities research analysts expect that Array Biopharma will post ($0.73) earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in ARRY. Orbimed Advisors LLC increased its stake in shares of Array Biopharma by 13.5% in the fourth quarter. Orbimed Advisors LLC now owns 16,088,800 shares of the biopharmaceutical company’s stock valued at $141,421,000 after buying an additional 1,908,900 shares during the last quarter. State Street Corp increased its stake in shares of Array Biopharma by 41.4% in the fourth quarter. State Street Corp now owns 6,427,728 shares of the biopharmaceutical company’s stock valued at $56,498,000 after buying an additional 1,883,249 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Array Biopharma by 28.8% in the fourth quarter. Franklin Resources Inc. now owns 5,578,760 shares of the biopharmaceutical company’s stock valued at $49,037,000 after buying an additional 1,247,660 shares during the last quarter. Sphera Funds Management LTD. bought a new stake in shares of Array Biopharma during the third quarter valued at approximately $6,075,000. Finally, Bogle Investment Management L P DE increased its stake in shares of Array Biopharma by 62.4% in the fourth quarter. Bogle Investment Management L P DE now owns 2,073,680 shares of the biopharmaceutical company’s stock valued at $18,227,000 after buying an additional 796,466 shares during the last quarter. 88.58% of the stock is owned by institutional investors and hedge funds.

About Array Biopharma

Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib (partnered with AstraZeneca, PLC).

5 Day Chart for NASDAQ:ARRY

To view Vetr’s full report, visit Vetr’s official website.

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