Stock Mover of the Day: Does Array Biopharma Inc Have Any Gas After Today’s Huge Increase?

Stock Mover of the Day: Does Array Biopharma Inc Have Any Gas After Today's Huge Increase?

The stock of Array Biopharma Inc (NASDAQ:ARRY) is a huge mover today! About 8.79M shares traded hands or 3.53% up from the average. Array Biopharma Inc (NASDAQ:ARRY) has risen 140.00% since February 26, 2016 and is uptrending. It has outperformed by 129.58% the S&P500.
The move comes after 9 months positive chart setup for the $1.09B company. It was reported on Sep, 30 by Barchart.com. We have $11.32 PT which if reached, will make NASDAQ:ARRY worth $730.30 million more.

Analysts await Array Biopharma Inc (NASDAQ:ARRY) to report earnings on November, 2. They expect $-0.18 earnings per share, down 20.00% or $0.03 from last year’s $-0.15 per share. After $-0.17 actual earnings per share reported by Array Biopharma Inc for the previous quarter, Wall Street now forecasts 5.88% negative EPS growth.

Array Biopharma Inc (NASDAQ:ARRY) Ratings Coverage

Out of 6 analysts covering Array BioPharma (NASDAQ:ARRY), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Array BioPharma has been the topic of 6 analyst reports since June 3, 2016 according to StockzIntelligence Inc. The rating was maintained by Stifel Nicolaus on Friday, August 5 with “Buy”. Suntrust Robinson initiated the shares of ARRY in a report on Friday, June 3 with “Buy” rating. On Monday, August 29 the stock rating was maintained by Jefferies with “Buy”. The rating was maintained by Leerink Swann with “Outperform” on Monday, September 26. The company was maintained on Monday, September 26 by Piper Jaffray. The stock of Array Biopharma Inc (NASDAQ:ARRY) earned “Buy” rating by SunTrust on Friday, June 3.

According to Zacks Investment Research, “Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat life threatening and debilitating diseases. The company’s proprietary drug development pipeline is focused on the treatment of cancer and inflammatory disease and includes clinical candidates that are designed to regulate therapeutically important targets. In addition, leading pharmaceutical and biotechnology companies collaborate with Array to discover and develop drug candidates across a broad range of therapeutic areas.”

Insitutional Activity: The institutional sentiment decreased to 0.7 in 2016 Q2. Its down 0.08, from 0.78 in 2016Q1. The ratio fall, as 19 funds sold all Array Biopharma Inc shares owned while 42 reduced positions. 11 funds bought stakes while 32 increased positions. They now own 122.55 million shares or 5.45% less from 129.62 million shares in 2016Q1.
Savings Bank Of New York Mellon Corp has 647,567 shares for 0% of their US portfolio. Pub Employees Retirement Association Of Colorado reported 38,785 shares or 0% of all its holdings. Us Fincl Bank De accumulated 2,279 shares or 0% of the stock. Sarissa Management L P accumulated 4.35% or 4.30M shares. Blackrock Grp accumulated 51,760 shares or 0% of the stock. Aperio Llc has 14,516 shares for 0% of their US portfolio. Parallax Volatility Advisers Limited Partnership has 182,239 shares for 0% of their US portfolio. Los Angeles Management And Equity Research reported 260,460 shares or 0.01% of all its holdings. Millennium Mgmt Limited Liability Corporation last reported 1.85M shares in the company. Deerfield Mngmt Company holds 1.17% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY) for 8.36M shares. Springbok Capital Mngmt Limited Liability Corp accumulated 25,200 shares or 0.01% of the stock. Chicago Equity Limited Liability holds 0.06% or 554,890 shares in its portfolio. Geode Cap Management Limited Liability Co has 910,869 shares for 0% of their US portfolio. Tocqueville Asset Mngmt L P has invested 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). State Of New Jersey Common Pension Fund D holds 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY) for 265,000 shares.

More notable recent Array Biopharma Inc (NASDAQ:ARRY) news were published by: Blogs.Wsj.com which released: “Stocks to Watch: Chemtura, Deutsche Bank, Array BioPharma” on September 26, 2016, also Fool.com with their article: “3 Reasons to Buy Array Biopharma” published on September 27, 2016, Prnewswire.com published: “Array BioPharma Announces Pricing of Public Offering of Common Stock” on September 28, 2016. More interesting news about Array Biopharma Inc (NASDAQ:ARRY) were released by: Investorplace.com and their article: “Why Array Biopharma Inc (ARRY), Sally Beauty Holdings, Inc. (SBH) and Twitter …” published on September 26, 2016 as well as Investorplace.com‘s news article titled: “3 Stocks to Watch Tuesday: Kite Pharma Inc (KITE), Array Biopharma Inc (ARRY …” with publication date: September 27, 2016.

ARRY Company Profile

Array BioPharma Inc. (Array), incorporated on February 6, 1998, is a biopharmaceutical firm focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Firm has approximately five registration studies that are advancing. The Company’s programs include approximately three cancer drugs, binimetinib (MEK162), encorafenib (LGX818) and selumetinib (partnered with AstraZeneca). Binimetinib is a mitogen-activated protein kinase (MEK) inhibitor for cancer, which is in Phase III trial; encorafenib is a BRAF inhibitor for cancer, which is in Phase III trial, and selumetinib is a MEK inhibitor for cancer, which is in Phase III trial.

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