Cantor Fitzgerald Analysts Give Array BioPharma Inc. (ARRY) a $15.00 Price Target
Cantor Fitzgerald set a $15.00 price objective on Array BioPharma Inc. (NASDAQ:ARRY) in a report released on Tuesday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Several other analysts also recently issued reports on ARRY. Zacks Investment Research downgraded Array BioPharma from a hold rating to a sell rating in a report on Tuesday, July 11th. BidaskClub downgraded Array BioPharma from a sell rating to a strong sell rating in a report on Wednesday, July 12th. Piper Jaffray Companies set a $14.00 price target on Array BioPharma and gave the company a buy rating in a report on Tuesday, July 18th. Stifel Nicolaus reiterated a buy rating and issued a $13.00 price target on shares of Array BioPharma in a report on Thursday, August 10th. Finally, Jefferies Group LLC set a $9.00 price target on Array BioPharma and gave the company a buy rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $13.65.
Array BioPharma (NASDAQ:ARRY) traded up $0.66 during mid-day trading on Tuesday, hitting $11.13. The stock had a trading volume of 1,640,262 shares, compared to its average volume of 2,888,433. 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 released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, hitting analysts’ consensus estimates of ($0.22). The business had revenue of $29.75 million during the quarter, compared to the consensus estimate of $33.74 million. Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The business’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.20) EPS. research analysts predict that Array BioPharma will post -0.99 earnings per share for the current year.
In other Array BioPharma news, Director Kyle Lefkoff sold 38,865 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $12.31, for a total value of $478,428.15. Following the completion of the transaction, the director now directly owns 51,585 shares of the company’s stock, valued at approximately $635,011.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.18% of the company’s stock.
Large investors have recently bought and sold shares of the business. Fox Run Management L.L.C. purchased a new position in Array BioPharma in the 3rd quarter valued at about $146,000. Quantitative Systematic Strategies LLC boosted its position in Array BioPharma by 9.6% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 12,568 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 1,103 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Array BioPharma by 8.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 972 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Array BioPharma in the 2nd quarter valued at about $110,000. Finally, Edge Wealth Management LLC purchased a new position in Array BioPharma in the 3rd quarter valued at about $185,000. 85.61% of the stock is 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).
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