Breaking: Array Biopharma Inc’s Trend Up, Especially After Today’s Strong Session

Breaking: Array Biopharma Inc's Trend Up, Especially After Today's Strong Session

The stock of Array Biopharma Inc (NASDAQ:ARRY) is a huge mover today! The stock increased 4.51% or $0.35 during the last trading session, hitting $8.23. About 3.92M shares traded hands. Array Biopharma Inc (NASDAQ:ARRY) has risen 147.02% since April 26, 2016 and is uptrending. It has outperformed by 141.76% the S&P500.
The move comes after 9 months positive chart setup for the $1.37 billion company. It was reported on Nov, 29 by Barchart.com. We have $8.48 PT which if reached, will make NASDAQ:ARRY worth $41.10M more.

Analysts await Array Biopharma Inc (NASDAQ:ARRY) to report earnings on February, 7. They expect $-0.17 earnings per share, 0.00% or $0.00 from last year’s $-0.17 per share. After $-0.20 actual earnings per share reported by Array Biopharma Inc for the previous quarter, Wall Street now forecasts -15.00% EPS growth.

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. Jefferies maintained Array Biopharma Inc (NASDAQ:ARRY) on Monday, August 29 with “Buy” rating. On Friday, June 3 the stock rating was initiated by SunTrust with “Buy”. The company was initiated on Friday, June 3 by Suntrust Robinson. Leerink Swann maintained Array Biopharma Inc (NASDAQ:ARRY) on Monday, September 26 with “Outperform” rating. As per Monday, September 26, the company rating was maintained by Piper Jaffray. The stock of Array Biopharma Inc (NASDAQ:ARRY) has “Buy” rating given on Friday, August 5 by Stifel Nicolaus.

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 Q2 2016. Its up 1.18, from 0.7 in 2016Q1. The ratio increased, 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.
Nomura Holdings Inc, a Japan-based fund reported 51,453 shares. Da Davidson, a Montana-based fund reported 294 shares. Blackrock Advsr Ltd has 69,415 shares for 0% of their US portfolio. Blackrock Institutional Co Na holds 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY) for 3.47 million shares. Morgan Stanley last reported 141,158 shares in the company. Fisher Asset Limited has 135,695 shares for 0% of their US portfolio. Great West Life Assurance Can accumulated 0% or 10,000 shares. Wells Fargo & Mn reported 231,801 shares or 0% of all its holdings. The New Jersey-based Prudential Fincl has invested 0% in Array Biopharma Inc (NASDAQ:ARRY). Royal Retail Bank Of Canada holds 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY) for 11,310 shares. Teacher Retirement Sys Of Texas, a Texas-based fund reported 16,619 shares. The New York-based Deerfield Mngmt Com has invested 1.17% in Array Biopharma Inc (NASDAQ:ARRY). Pub Employees Retirement Association Of Colorado owns 38,785 shares or 0% of their US portfolio. Moreover, Pinnacle Associate Ltd has 0.27% invested in Array Biopharma Inc (NASDAQ:ARRY) for 3.49M shares. Virginia Retirement Et Al has 50,900 shares for 0% of their US 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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