Array BioPharma (NASDAQ:ARRY) had its price objective raised by equities research analysts at Jefferies Group to $13.00 in a note issued to investors on Friday. The firm presently has a "buy" rating on the biopharmaceutical company’s stock. Jefferies Group’s price objective would indicate a potential upside of 5.95% from the company’s previous close.
Several other analysts have also recently commented on the company. BidaskClub upgraded Array BioPharma from a "sell" rating to a "hold" rating in a report on Friday. SunTrust Banks restated a "buy" rating and set a $16.00 target price on shares of Array BioPharma in a research note on Wednesday, November 1st. Stifel Nicolaus reiterated a "buy" rating on shares of Array BioPharma in a research report on Wednesday, November 1st. Cantor Fitzgerald set a $15.00 price objective on Array BioPharma and gave the stock a "buy" rating in a research report on Tuesday, October 31st. Finally, Piper Jaffray Companies reiterated an "overweight" rating and issued a $18.00 price objective (up previously from $14.00) on shares of Array BioPharma in a research report on Wednesday, September 20th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Array BioPharma has a consensus rating of "Buy" and an average target price of $14.10.
Shares of Array BioPharma traded up $1.07 during trading on Friday, reaching $12.27. 7,944,938 shares of the company’s stock traded hands, compared to its average volume of 2,854,479. The stock has a market capitalization of $2,206.71, a price-to-earnings ratio of -16.58 and a beta of 1.92. Array BioPharma has a one year low of $6.73 and a one year high of $13.40. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 5.43.
Array BioPharma (NASDAQ:ARRY) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, meeting analysts’ consensus estimates of ($0.22). The company 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%. Array BioPharma’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.20) earnings per share. sell-side analysts predict that Array BioPharma will post -0.99 earnings per share for the current year.
In other news, Director Kyle Lefkoff sold 38,865 shares of Array BioPharma stock in a transaction on Friday, September 29th. The stock was sold at an average price of $12.31, for a total value of $478,428.15. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew R. Robbins sold 282,874 shares of Array BioPharma stock in a transaction on Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The disclosure for this sale can be found here. Insiders sold a total of 1,141,410 shares of company stock valued at $12,412,464 over the last three months. Insiders own 3.18% of the company’s stock.
Large investors have recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Array BioPharma by 8.5% during the second quarter. Northern Trust Corp now owns 2,130,493 shares of the biopharmaceutical company’s stock worth $17,832,000 after acquiring an additional 166,031 shares during the period. Marshall Wace North America L.P. boosted its stake in shares of Array BioPharma by 4.6% in the second quarter. Marshall Wace North America L.P. now owns 677,109 shares of the biopharmaceutical company’s stock valued at $5,417,000 after buying an additional 29,543 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Array BioPharma by 6.4% in the second quarter. New York State Common Retirement Fund now owns 195,300 shares of the biopharmaceutical company’s stock valued at $1,635,000 after buying an additional 11,699 shares during the period. Nationwide Fund Advisors boos...










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