Array BioPharma Inc. (ARRY) Given a $14.00 Price Target at Piper Jaffray Companies
Array BioPharma Inc. (NASDAQ:ARRY) has been given a $14.00 target price by analysts at Piper Jaffray Companies in a research note issued on Tuesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 65.29% from the company’s previous close.
Several other research firms have also commented on ARRY. Cowen and Company cut their price objective on Array BioPharma to $14.00 and set an “outperform” rating for the company in a research note on Monday, March 20th. J P Morgan Chase & Co set a $9.00 price objective on Array BioPharma and gave the stock a “hold” rating in a research note on Monday, March 20th. Vetr upgraded Array BioPharma from a “sell” rating to a “hold” rating and set a $9.99 price objective for the company in a research note on Monday, March 20th. Jefferies Group LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Array BioPharma in a research note on Wednesday, March 29th. Finally, BidaskClub upgraded Array BioPharma from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.54.
Shares of Array BioPharma (NASDAQ ARRY) opened at 8.47 on Tuesday. The company’s 50 day moving average price is $8.24 and its 200 day moving average price is $9.32. The stock’s market cap is $1.45 billion. Array BioPharma has a 52-week low of $3.10 and a 52-week high of $13.40.
Array BioPharma (NASDAQ:ARRY) last announced its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.05. The company had revenue of $33.28 million during the quarter, compared to analysts’ expectations of $38.28 million. During the same period in the previous year, the company posted ($0.16) EPS. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. On average, analysts anticipate that Array BioPharma will post ($0.76) earnings per share for the current year.
Several large investors have recently bought and sold shares of ARRY. Russell Investments Group Ltd. bought a new stake in Array BioPharma during the fourth quarter worth about $619,000. Guggenheim Capital LLC bought a new stake in Array BioPharma during the fourth quarter worth about $2,357,000. AQR Capital Management LLC bought a new stake in Array BioPharma during the fourth quarter worth about $1,152,000. Norges Bank bought a new stake in Array BioPharma during the fourth quarter worth about $440,000. Finally, UBS Asset Management Americas Inc. raised its stake in Array BioPharma by 937.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 853,469 shares of the biopharmaceutical company’s stock worth $7,502,000 after buying an additional 771,189 shares during the period. Institutional investors and hedge funds own 97.88% of the company’s stock.
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).
Receive News & Ratings for Array BioPharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array BioPharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.