The stock of Array Biopharma Inc (NASDAQ:ARRY) is a huge mover today! About 3.06M shares traded hands. Array Biopharma Inc (NASDAQ:ARRY) has risen 79.93% since April 4, 2016 and is uptrending. It has outperformed by 78.84% the S&P500.
The move comes after 9 months positive chart setup for the $954.71 million company. It was reported on Nov, 4 by Barchart.com. We have $8.48 PT which if reached, will make NASDAQ:ARRY worth $420.07 million 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. The stock of Array Biopharma Inc (NASDAQ:ARRY) has “Overweight” rating given on Monday, September 26 by Piper Jaffray. The stock of Array Biopharma Inc (NASDAQ:ARRY) has “Buy” rating given on Friday, August 5 by Stifel Nicolaus. The firm has “Buy” rating given on Friday, June 3 by SunTrust. The firm has “Buy” rating by Suntrust Robinson given on Friday, June 3. The stock has “Buy” rating given by Jefferies on Monday, August 29. On Monday, September 26 the stock rating was maintained by Leerink Swann with “Outperform”.
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 dropped, 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.
State Of New Jersey Common Pension Fund D last reported 265,000 shares in the company. Ubs Asset Management Americas holds 0% or 82,280 shares in its portfolio. Goldman Sachs has 256,666 shares for 0% of their US portfolio. Pnc Fincl Svcs Grp owns 2,081 shares or 0% of their US portfolio. Baxter Bros has invested 0.05% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). Stifel Financial holds 20,420 shares or 0% of its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) holds 4,066 shares or 0% of its portfolio. Renaissance Technology Ltd Liability last reported 0% of its portfolio in the stock. Susquehanna Grp Limited Liability Partnership holds 338,410 shares or 0% of its portfolio. The New York-based Bnp Paribas Arbitrage has invested 0% in Array Biopharma Inc (NASDAQ:ARRY). Blackrock has 0% invested in the company for 33,654 shares. Artal Gp last reported 0.28% of its portfolio in the stock. Vanguard Group owns 8.68M shares or 0% of their US portfolio. Panagora Asset has 0.03% invested in the company for 1.59 million shares. Numeric Ltd Liability Corp has invested 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY).
Insider Transactions: Since September 28, 2016, the stock had 0 insider buys, and 1 insider sale for $15.85 million net activity. Redmile Group – LLC sold 2.49 million shares worth $15.85M.
More important recent Array Biopharma Inc (NASDAQ:ARRY) news were published by: 247Wallst.com which released: “Top Analyst Upgrades and Downgrades: Agrium, Array BioPharma, Encana, GoPro …” on November 04, 2016, also Benzinga.com published article titled: “Benzinga’s Top Initiations”, Prnewswire.com published: “Array BioPharma And Pierre Fabre To Present Phase 3 COLUMBUS Trial At Society …” on October 25, 2016. More interesting news about Array Biopharma Inc (NASDAQ:ARRY) was released by: Prnewswire.com and their article: “Research Reports on Biotech Equities — Mast Therapeutics, Array BioPharma …” with publication date: October 31, 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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