Array Biopharma Inc (ARRY) is Reiterated by Piper Jaffray to Overweight, Raises Price Target to $ 10

Array Biopharma Inc (ARRY) was Reiterated by Piper Jaffray to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 10 from a previous price target of $7 . Piper Jaffray advised their investors in a research report released on Sep 26, 2016.

Many Wall Street Analysts have commented on Array Biopharma Inc. Company shares were Reiterated by Leerink Partners on Sep 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 9 from a previous price target of $6 .

On the company’s financial health, Array Biopharma Inc reported $-0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.19. The company had revenue of $43.20 million for the quarter, compared to analysts expectations of $41.70 million. The company’s revenue was up 251.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Array Biopharma Inc opened for trading at $3.65 and hit $3.7 on the upside on Thursday, eventually ending the session at $3.69, with a gain of 2.79% or 0.1 points. The heightened volatility saw the trading volume jump to 16,07,428 shares. Company has a market cap of $535 M.

In a different news, on May 12, 2015, Charles M Baum (director) sold 25,000 shares at $7.38 per share price. According to the SEC, on Mar 4, 2015, Kyle Lefkoff (director) sold 70,000 shares at $8.00 per share price. On Mar 4, 2015, Andrews R Robbins (SVP, Commercial Operations) sold 21,576 shares at $8.25 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

Array Biopharma Inc

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