Cantor Fitzgerald set a $13.00 price target on Array BioPharma Inc. (NASDAQ:ARRY) in a research report released on Thursday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other research firms also recently issued reports on ARRY. Leerink Swann downgraded shares of Array BioPharma from an outperform rating to a market perform rating and set a $11.00 target price for the company. in a research report on Monday, January 30th. They noted that the move was a valuation call. Stifel Nicolaus increased their target price on shares of Array BioPharma from $8.00 to $13.00 and gave the stock a buy rating in a research report on Friday, February 3rd. J P Morgan Chase & Co downgraded shares of Array BioPharma from an overweight rating to a neutral rating and set a $10.00 target price for the company. in a research report on Friday, February 3rd. They noted that the move was a valuation call. Piper Jaffray Companies set a $15.00 target price on shares of Array BioPharma and gave the stock a buy rating in a research report on Tuesday, January 17th. Finally, Zacks Investment Research raised shares of Array BioPharma from a hold rating to a buy rating and set a $11.00 target price for the company in a research report on Friday, January 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Array BioPharma currently has a consensus rating of Buy and an average target price of $11.44.
Shares of Array BioPharma (NASDAQ:ARRY) opened at 12.00 on Thursday. The firm’s market cap is $2.03 billion. The firm’s 50-day moving average is $10.43 and its 200-day moving average is $6.99. Array BioPharma has a 12-month low of $2.43 and a 12-month high of $13.40.
Array BioPharma (NASDAQ:ARRY) last posted its earnings results on Thursday, February 9th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. The business had revenue of $44.50 million for the quarter, compared to analyst estimates of $31.90 million. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period last year, the company posted ($0.17) EPS. Equities analysts expect that Array BioPharma will post ($0.73) earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC boosted its position in Array BioPharma by 13.6% in the third quarter. Aperio Group LLC now owns 16,494 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 1,978 shares during the period. Palisade Capital Management LLC NJ acquired a new position in Array BioPharma during the third quarter valued at approximately $148,000. Fred Alger Management Inc. acquired a new position in Array BioPharma during the fourth quarter valued at approximately $176,000. Virginia Retirement Systems ET AL acquired a new position in Array BioPharma during the second quarter valued at approximately $181,000. Finally, BlackRock Inc. boosted its position in Array BioPharma by 2.5% in the third quarter. BlackRock Inc. now owns 34,502 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 848 shares during the period. Institutional investors own 88.58% of the company’s stock.
Array BioPharma Company Profile
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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