The stock of Array Biopharma Inc (NASDAQ:ARRY) is a huge mover today! About 1.82M shares traded hands. Array Biopharma Inc (NASDAQ:ARRY) has risen 129.73% since March 8, 2016 and is uptrending. It has outperformed by 120.41% the S&P500.
The move comes after 5 months positive chart setup for the $1.12B company. It was reported on Oct, 11 by Barchart.com. We have $11.31 PT which if reached, will make NASDAQ:ARRY worth $761.60 million more.
Analysts await Array Biopharma Inc (NASDAQ:ARRY) to report earnings on November, 2. They expect $-0.18 EPS, down 20.00% or $0.03 from last year’s $-0.15 per share. After $-0.17 actual EPS 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 stock of Array Biopharma Inc (NASDAQ:ARRY) earned “Buy” rating by Jefferies on Monday, August 29. The stock of Array Biopharma Inc (NASDAQ:ARRY) earned “Buy” rating by SunTrust on Friday, June 3. Suntrust Robinson initiated Array Biopharma Inc (NASDAQ:ARRY) on Friday, June 3 with “Buy” rating. The company was maintained on Monday, September 26 by Piper Jaffray. Leerink Swann maintained the shares of ARRY in a report on Monday, September 26 with “Outperform” rating. Stifel Nicolaus maintained it with “Buy” rating and $8 target price in Friday, August 5 report.
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 Q2 2016. Its down 0.08, from 0.78 in 2016Q1. The ratio dived, 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.
Brown Advisory accumulated 11,290 shares or 0% of the stock. Creative Planning has invested 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). Janney Montgomery Scott Lc owns 18,000 shares or 0% of their US portfolio. Shinko Asset Mgmt has invested 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). Prudential Financial holds 0% or 14,257 shares in its portfolio. Credit Suisse Ag owns 236,532 shares or 0% of their US portfolio. Schwab Charles Investment Mngmt holds 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY) for 515,317 shares. The Alabama-based Weiss Multi has invested 0.04% in Array Biopharma Inc (NASDAQ:ARRY). State Street Corp reported 3.56 million shares or 0% of all its holdings. Sarissa Cap Mgmt Ltd Partnership has invested 4.35% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). Hall Laurie J Trustee has invested 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). Tocqueville Asset Management Limited Partnership owns 100,000 shares or 0% of their US portfolio. Aperio Group Ltd Llc last reported 14,516 shares in the company. Hollencrest Secs Ltd last reported 0.09% of its portfolio in the stock. Ubs Asset Mgmt Americas Inc has 0% invested in the company for 82,280 shares.
Insider Transactions: Since September 28, 2016, the stock had 0 buys, and 1 insider sale for $15.85 million net activity. 2.49M shares with value of $15.85M were sold by Redmile Group – LLC on Wednesday, September 28.
More notable recent Array Biopharma Inc (NASDAQ:ARRY) news were published by: Fool.com which released: “Why Array BioPharma Inc Is Surging Today” on September 26, 2016, also Prnewswire.com with their article: “Array BioPharma Announces Closing of Public Offering and Full Exercise of …” published on October 03, 2016, Investorplace.com published: “Why Array Biopharma Inc (ARRY), Sally Beauty Holdings, Inc. (SBH) and Twitter …” on September 26, 2016. More interesting news about Array Biopharma Inc (NASDAQ:ARRY) were released by: Blogs.Wsj.com and their article: “Stocks to Watch: Chemtura, Deutsche Bank, Array BioPharma” published on September 26, 2016 as well as Prnewswire.com‘s news article titled: “Array BioPharma Announces Pricing of Public Offering of Common Stock” with publication date: September 28, 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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