Price Target Update on Array BioPharma (NASDAQ:ARRY)

Array BioPharma (NASDAQ:ARRY) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $13 and the lowest price target forecast is $7. The average forecast of all the analysts is $8.5 and the expected standard deviation is $2.35.

Other Equity analysts have also commented on the company shares. SunTrust Robinson Humphrey initiates coverage on Array BioPharma (NASDAQ:ARRY) . Analysts at the SunTrust Robinson Humphrey have a current rating of Buy on the shares. The rating by the firm was issued on June 3, 2016.

Array BioPharma (NASDAQ:ARRY): stock turned positive on Thursday. Though the stock opened at $3.38, the bulls momentum made the stock top out at $3.58 level for the day. The stock recorded a low of $3.36 and closed the trading day at $3.58, in the green by 7.51%. The total traded volume for the day was 1,851,939. The stock had closed at $3.33 in the previous days trading.

The company shares have dropped -56.24% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $7.70 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $3.30 and the 200 Day Moving Average price is recorded at $3.25. On the companys insider trading activities,The director of Array Biopharma Inc, Baum Charles M sold 25,000 shares at $7.38 on May 8, 2015. The Insider selling transaction had a total value worth of $184,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer. The Companys wholly owned clinical stage drugs include Filanesib in Phase II clinical trials, is indicated for Kinesin spindle protein (KSP), inhibitor for MM; ARRY-797 in Phase II clinical trials, indicated for p38 inhibitor for Lamin A/C-related dilated cardiomyopathy (LMNA-DCM); ARRY-502 in Phase II clinical trials, indicated for CRTh2 antagonist for asthma, and ARRY-614 in Phase I clinical trials, is indicated for p38/Tie2 dual inhibitor for myelodysplastic syndromes (MDS). In addition, the Company has 11 ongoing partner-funded clinical programs, including two MEK inhibitors, which are both in Phase III clinical trials, binimetinib with Novartis and selumetinib with AstraZeneca.

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