Stifel Nicolaus restated their buy rating on shares of Array BioPharma Inc. (NASDAQ:ARRY) in a research note released on Wednesday morning.

ARRY has been the subject of a number of other reports. BidaskClub raised Array BioPharma from a strong sell rating to a sell rating in a research note on Friday, August 25th. Cantor Fitzgerald reissued a buy rating and issued a $15.00 price objective on shares of Array BioPharma in a research note on Tuesday, September 26th. Jefferies Group LLC reissued a buy rating and issued a $9.00 price objective on shares of Array BioPharma in a research note on Tuesday, September 12th. J P Morgan Chase & Co reissued a buy rating and issued a $14.00 price objective on shares of Array BioPharma in a research note on Monday, September 11th. Finally, Piper Jaffray Companies reissued an overweight rating and issued a $18.00 price objective (up from $14.00) on shares of Array BioPharma in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Array BioPharma has an average rating of Buy and a consensus target price of $13.65.

Shares of Array BioPharma (ARRY) opened at $11.13 on Wednesday. Array BioPharma has a one year low of $5.58 and a one year high of $13.40. The company has a current ratio of 5.43, a quick ratio of 3.88 and a debt-to-equity ratio of 0.54.

Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.22). Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The company had revenue of $29.75 million during the quarter, compared to the consensus estimate of $33.74 million. During the same period last year, the business earned ($0.20) EPS. The business’s quarterly revenue was down 24.2% on a year-over-year basis. sell-side analysts anticipate that Array BioPharma will post -0.99 earnings per share for the current fiscal year.

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In other Array BioPharma news, Director Kyle Lefkoff sold 38,865 shares of Array BioPharma stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $12.31, for a total value of $478,428.15. Following the transaction, the director now directly owns 51,585 shares of the company’s stock, valued at approximately $635,011.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ARRY. Karp Capital Management Corp bought a new position in Array BioPharma in the 1st quarter worth approximately $181,000. Parametric Portfolio Associates LLC increased its position in Array BioPharma by 33.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 59,988 shares of the biopharmaceutical company’s stock worth $536,000 after buying an additional 15,190 shares during the period. Prudential Financial Inc. increased its position in Array BioPharma by 3.5% in the 1st quarter. Prudential Financial Inc. now owns 17,377 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 590 shares during the period. Alliancebernstein L.P. increased its position in Array BioPharma by 44.2% in the 1st quarter. Alliancebernstein L.P. now owns 325,779 shares of the biopharmaceutical company’s stock worth $2,912,000 after buying an additional 99,850 shares during the period. Finally, Wellington Management Group LLP bought a new position in Array BioPharma in the 1st quarter worth approximately $2,554,000. 85.61% of the stock is currently owned by institutional investors.

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).

Analyst Recommendations for Array BioPharma (NASDAQ:ARRY)

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