The stock of Array Biopharma Inc (NASDAQ:ARRY) is a huge mover today! About 1.50 million shares traded hands. Array Biopharma Inc (NASDAQ:ARRY) has risen 125.23% since April 18, 2016 and is uptrending. It has outperformed by 120.80% the S&P500.
The move comes after 7 months positive chart setup for the $1.31B company. It was reported on Nov, 18 by Barchart.com. We have $11.92 PT which if reached, will make NASDAQ:ARRY worth $786.00M 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 Monday, September 26 the stock rating was maintained by Piper Jaffray with “Overweight”. Leerink Swann maintained the shares of ARRY in a report on Monday, September 26 with “Outperform” rating. The stock has “Buy” rating given by SunTrust on Friday, June 3. The rating was maintained by Jefferies with “Buy” on Monday, August 29. The company was maintained on Friday, August 5 by Stifel Nicolaus. The stock of Array Biopharma Inc (NASDAQ:ARRY) has “Buy” rating given on Friday, June 3 by Suntrust Robinson.
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 increased to 1.88 in 2016 Q2. Its up 1.18, from 0.7 in 2016Q1. The ratio is positive, 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.
Jpmorgan Chase Company accumulated 0% or 3,000 shares. Proshare Ltd Liability Company has 0.01% invested in the company for 124,443 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY) for 4,066 shares. Moreover, Goldman Sachs Grp has 0% invested in Array Biopharma Inc (NASDAQ:ARRY) for 256,666 shares. Kopp Invest Advsr Limited Liability Com holds 360,282 shares or 0.68% of its portfolio. Commonwealth Equity Svcs has invested 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). Rhenman And Prns Asset has 0.23% invested in the company for 370,000 shares. Highbridge Cap Mngmt Ltd Llc accumulated 34,938 shares or 0% of the stock. Virginia Retirement Sys Et Al has 0% invested in the company for 50,900 shares. Renaissance Limited Com has 0% invested in the company for 17,452 shares. California State Teachers Retirement Systems, a California-based fund reported 302,901 shares. Great West Life Assurance Co Can, a Manitoba – Canada-based fund reported 10,000 shares. Voya Invest Management Limited Liability Corporation, a Georgia-based fund reported 63,079 shares. Legal & General Grp Inc Public Limited holds 0% or 23,211 shares in its portfolio. Pnc Financial Inc holds 2,081 shares or 0% of its portfolio.
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 also sold $15.85M worth of Array Biopharma Inc (NASDAQ:ARRY) on Wednesday, September 28.
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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