Array Biopharma (NASDAQ:ARRY) Now Covered by Analysts at Guggenheim

Share on StockTwits

Guggenheim initiated coverage on shares of Array Biopharma (NASDAQ:ARRY) in a research note issued to investors on Monday, September 17th, The Fly reports. The firm issued a buy rating on the biopharmaceutical company’s stock.

ARRY has been the subject of several other reports. SunTrust Banks lifted their price objective on shares of Array Biopharma to $25.00 and gave the company a buy rating in a research note on Monday, June 25th. Wells Fargo & Co lifted their price objective on shares of Array Biopharma from $31.00 to $33.00 and gave the company an outperform rating in a research note on Thursday, June 28th. Zacks Investment Research upgraded shares of Array Biopharma from a sell rating to a hold rating in a research note on Friday, August 17th. Cantor Fitzgerald restated a buy rating and set a $26.00 price objective (up from $24.00) on shares of Array Biopharma in a research note on Sunday, June 24th. Finally, BidaskClub upgraded shares of Array Biopharma from a hold rating to a buy rating in a research note on Friday, June 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Array Biopharma currently has a consensus rating of Buy and an average price target of $22.44.

ARRY stock traded up $0.54 during trading on Monday, reaching $13.66. The company had a trading volume of 2,491,662 shares, compared to its average volume of 2,902,974. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 0.42. Array Biopharma has a twelve month low of $9.98 and a twelve month high of $20.21. The stock has a market capitalization of $3.24 billion, a PE ratio of -18.71 and a beta of 1.11.

Array Biopharma (NASDAQ:ARRY) last announced its quarterly earnings data on Tuesday, August 14th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Array Biopharma had a negative net margin of 84.79% and a negative return on equity of 80.54%. The business had revenue of $35.40 million for the quarter, compared to analyst estimates of $38.73 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Array Biopharma will post -0.72 earnings per share for the current year.

In related news, insider Victor Sandor sold 9,687 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $15.38, for a total value of $148,986.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lunsen Gil J. Van sold 21,500 shares of the business’s stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $16.56, for a total transaction of $356,040.00. Following the completion of the sale, the director now directly owns 29,797 shares of the company’s stock, valued at approximately $493,438.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,187 shares of company stock valued at $1,420,856. Insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ARRY. SG Americas Securities LLC purchased a new stake in Array Biopharma in the 1st quarter worth $262,000. Mackay Shields LLC purchased a new stake in Array Biopharma in the 1st quarter worth $1,134,000. Victory Capital Management Inc. increased its holdings in Array Biopharma by 2,046.5% in the 1st quarter. Victory Capital Management Inc. now owns 65,040 shares of the biopharmaceutical company’s stock worth $1,061,000 after acquiring an additional 62,010 shares in the last quarter. Prudential Financial Inc. increased its holdings in Array Biopharma by 868.0% in the 1st quarter. Prudential Financial Inc. now owns 197,047 shares of the biopharmaceutical company’s stock worth $3,216,000 after acquiring an additional 176,690 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Array Biopharma by 14.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 98,084 shares of the biopharmaceutical company’s stock worth $1,601,000 after acquiring an additional 12,072 shares in the last quarter. 91.81% of the stock is owned by institutional investors.

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 and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.

See Also: What is the Dividend Aristocrat Index?

The Fly

Analyst Recommendations for Array Biopharma (NASDAQ:ARRY)

Receive News & Ratings for Array Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply