Array BioPharma Inc. (ARRY) Trading Up 9.8%
Shares of Array BioPharma Inc. (NASDAQ:ARRY) were up 9.8% on Thursday . The stock traded as high as $4.51 and last traded at $4.50, with a volume of 2,512,693 shares changing hands. The stock had previously closed at $4.10.
Several analysts have weighed in on ARRY shares. Leerink Swann reaffirmed a “buy” rating on shares of Array BioPharma in a research note on Monday, June 20th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Array BioPharma in a research note on Wednesday, June 8th. SunTrust Banks Inc. started coverage on Array BioPharma in a research note on Thursday, June 2nd. They set a “buy” rating and a $7.00 target price on the stock. Zacks Investment Research raised Array BioPharma from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Tuesday, July 5th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Array BioPharma in a research note on Wednesday, May 4th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $7.40.
The company has a 50 day moving average price of $3.62 and a 200-day moving average price of $3.19. The stock’s market cap is $642.61 million.
Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by $0.02. During the same quarter in the prior year, the company posted ($0.09) EPS. The firm earned $43.20 million during the quarter, compared to the consensus estimate of $41.51 million. The company’s revenue for the quarter was up 251.2% on a year-over-year basis. On average, analysts forecast that Array BioPharma Inc. will post ($0.62) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Array BioPharma stock. California State Teachers Retirement System increased its stake in shares of 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 approximately 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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