The stock of Array Biopharma Inc (NASDAQ:ARRY) is a huge mover today! About 1.69M shares traded hands. Array Biopharma Inc (NASDAQ:ARRY) has risen 127.36% since April 11, 2016 and is uptrending. It has outperformed by 121.22% the S&P500.
The move comes after 9 months positive chart setup for the $1.18B company. It was reported on Nov, 11 by Barchart.com. We have $11.04 PT which if reached, will make NASDAQ:ARRY worth $743.40M more.
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. On Friday, August 5 the stock rating was maintained by Stifel Nicolaus with “Buy”. The stock of Array Biopharma Inc (NASDAQ:ARRY) has “Buy” rating given on Friday, June 3 by SunTrust. On Monday, September 26 the stock rating was maintained by Piper Jaffray with “Overweight”. On Friday, June 3 the stock rating was initiated by Suntrust Robinson with “Buy”. Jefferies maintained the shares of ARRY in a report on Monday, August 29 with “Buy” rating. The company was maintained on Monday, September 26 by Leerink Swann.
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 turned negative, 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.
Creative Planning, a Kansas-based fund reported 4,400 shares. Prudential Financial has 0% invested in the company for 14,257 shares. Shinko Asset Mgmt holds 135,695 shares or 0% of its portfolio. Moreover, Bedell Frazier Counseling Limited Co has 0.31% invested in Array Biopharma Inc (NASDAQ:ARRY) for 174,421 shares. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 4,066 shares. Virginia Retirement System Et Al accumulated 0% or 50,900 shares. Bvf Incorporated Il has 8.26 million shares for 6.27% of their US portfolio. The New Jersey-based Nj State Employees Deferred Compensation Plan has invested 0.05% in Array Biopharma Inc (NASDAQ:ARRY). Lpl Financial Ltd Liability has 13,350 shares for 0% of their US portfolio. Stifel Fincl Corporation last reported 0% of its portfolio in the stock. Blackrock Grp Inc last reported 0% of its portfolio in the stock. California State Teachers Retirement System last reported 0% of its portfolio in the stock. Fincl Bank Of Montreal Can has invested 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). Brown Advisory owns 11,290 shares or 0% of their US portfolio. Jpmorgan Chase last reported 3,000 shares in the company.
Insider Transactions: Since September 28, 2016, the stock had 0 insider purchases, and 1 insider sale for $15.85 million net activity. Redmile Group – LLC sold $15.85M worth of stock or 2.49 million shares.
Another recent and important Array Biopharma Inc (NASDAQ:ARRY) news was published by Prnewswire.com which published an article titled: “Array BioPharma Reports Financial Results For The First Quarter Of Fiscal 2017” on November 01, 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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