Shares of Array Biopharma Inc (NASDAQ:ARRY) have been given a consensus recommendation of “Buy” by the twelve research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.43.

A number of equities analysts have issued reports on the company. Stifel Nicolaus upped their target price on Array Biopharma from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. BidaskClub cut Array Biopharma from a “hold” rating to a “sell” rating in a report on Wednesday. SunTrust Banks reaffirmed a “buy” rating and issued a $20.00 target price on shares of Array Biopharma in a report on Tuesday, February 6th. Leerink Swann upped their target price on Array Biopharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Zacks Investment Research raised Array Biopharma from a “sell” rating to a “hold” rating in a report on Friday, February 9th.

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Shares of ARRY stock traded up $0.65 during mid-day trading on Friday, hitting $17.00. The company had a trading volume of 1,173,011 shares, compared to its average volume of 3,975,262. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.39. Array Biopharma has a twelve month low of $6.73 and a twelve month high of $18.78. The company has a market cap of $3,488.30, a P/E ratio of -21.99 and a beta of 1.80.

Array Biopharma (NASDAQ:ARRY) last announced its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.06. Array Biopharma had a negative return on equity of 107.79% and a negative net margin of 98.51%. The business had revenue of $42.21 million during the quarter, compared to the consensus estimate of $26.81 million. During the same period in the prior year, the company earned ($0.14) EPS. Array Biopharma’s revenue for the quarter was down 5.2% on a year-over-year basis. analysts anticipate that Array Biopharma will post -0.88 EPS for the current year.

In other news, Director Lunsen Gil J. Van sold 21,500 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $12.94, for a total value of $278,210.00. Following the completion of the sale, the director now owns 34,297 shares of the company’s stock, valued at $443,803.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victor Sandor sold 156,016 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $17.71, for a total value of $2,763,043.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 278,016 shares of company stock valued at $4,718,508. Insiders own 3.18% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Array Biopharma by 70.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 3,834 shares during the period. QS Investors LLC acquired a new stake in shares of Array Biopharma in the fourth quarter valued at about $134,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Array Biopharma in the fourth quarter valued at about $169,000. First Mercantile Trust Co. acquired a new stake in shares of Array Biopharma in the fourth quarter valued at about $182,000. Finally, Jefferies Group LLC acquired a new stake in shares of Array Biopharma in the fourth quarter valued at about $185,000. 96.41% of the stock is owned by institutional investors.

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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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