Array BioPharma (ARRY) Receiving Somewhat Favorable News Coverage, Report Shows

Media stories about Array BioPharma (NASDAQ:ARRY) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Array BioPharma earned a news sentiment score of 0.04 on Accern’s scale. Accern also assigned news headlines about the biopharmaceutical company an impact score of 45.0009884695314 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

Here are some of the headlines that may have effected Accern Sentiment’s rankings:

Shares of Array BioPharma (NASDAQ:ARRY) opened at $16.98 on Monday. Array BioPharma has a one year low of $6.73 and a one year high of $18.24. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3,350.00, a price-to-earnings ratio of -22.05 and a beta of 2.03.

Array BioPharma (NASDAQ:ARRY) last posted its earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. Array BioPharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The firm had revenue of $42.21 million during the quarter, compared to analyst estimates of $26.81 million. During the same quarter in the prior year, the business posted ($0.14) EPS. The business’s revenue was down 5.2% compared to the same quarter last year. research analysts expect that Array BioPharma will post -0.87 earnings per share for the current year.

A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Leerink Swann boosted their price target on shares of Array BioPharma from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus boosted their price target on shares of Array BioPharma from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. SunTrust Banks restated a “buy” rating and set a $20.00 price target on shares of Array BioPharma in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $15.00 price target on shares of Array BioPharma in a research note on Sunday, January 21st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.43.

In related news, COO Andrew R. Robbins sold 282,874 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles M. Baum sold 50,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $16.90, for a total transaction of $845,000.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at $591,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,181,545 shares of company stock valued at $13,160,221. Company insiders own 3.18% of the company’s stock.

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Array BioPharma Company Profile

Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib (partnered with AstraZeneca, PLC).

Insider Buying and Selling by Quarter for Array BioPharma (NASDAQ:ARRY)

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