BidaskClub Upgrades Array Biopharma (ARRY) to “Hold”
Array Biopharma (NASDAQ:ARRY) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Array Biopharma from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Wells Fargo & Co boosted their target price on shares of Array Biopharma from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 28th. Piper Jaffray Companies boosted their target price on shares of Array Biopharma from $21.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 27th. SunTrust Banks boosted their price objective on shares of Array Biopharma to $25.00 and gave the stock a “buy” rating in a report on Monday, June 25th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $26.00 price objective (up previously from $24.00) on shares of Array Biopharma in a report on Sunday, June 24th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.90.
Array Biopharma stock opened at $15.27 on Wednesday. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -20.92 and a beta of 1.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.71 and a quick ratio of 4.71. Array Biopharma has a fifty-two week low of $9.35 and a fifty-two week high of $20.21.
In other news, COO Andrew R. Robbins sold 17,964 shares of the business’s stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $17.74, for a total transaction of $318,681.36. Following the transaction, the chief operating officer now owns 191,535 shares in the company, valued at approximately $3,397,830.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Victor Sandor sold 22,424 shares of the business’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $18.75, for a total transaction of $420,450.00. Following the transaction, the insider now owns 232,510 shares in the company, valued at approximately $4,359,562.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 440,217 shares of company stock worth $7,792,551. Insiders own 3.18% of the company’s stock.
Several large investors have recently bought and sold shares of ARRY. CIBC Private Wealth Group LLC bought a new stake in Array Biopharma in the second quarter valued at about $101,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Array Biopharma by 107.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,614 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 4,470 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Array Biopharma in the second quarter valued at about $191,000. GSA Capital Partners LLP bought a new stake in Array Biopharma in the first quarter valued at about $208,000. Finally, Royal Bank of Canada increased its stake in Array Biopharma by 266.7% in the first quarter. Royal Bank of Canada now owns 12,874 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 9,363 shares during the period. Institutional investors own 92.38% of the company’s stock.
Array Biopharma Company Profile
Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer in North America, Europe, and the Asia Pacific. The company's drugs in Phase III clinical trials include Binimetinib, Encorafenib, Selumetinib, and Ipatasertib/GDC-0068 for the treatment of cancer, as well as ASC08/Danoprevir to treat hepatitis C virus.
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