Analyst Rating Update on Array BioPharma (ARRY)

Array BioPharma (NASDAQ:ARRY) : 8 analysts are covering Array BioPharma (NASDAQ:ARRY) and their average rating on the stock is 1, which is read as a Strong Buy. 8 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels.

Array BioPharma (NASDAQ:ARRY) : Average target price received by Array BioPharma (NASDAQ:ARRY) is $8.5 with an expected standard deviation of $2.35. The most aggressive target on the stock is $13, whereas the most downbeat target is $7. 6 financial analysts are currently covering the stock.

For the current week, the company shares have a recommendation consensus of Buy. Also, SunTrust Robinson Humphrey initiates coverage on Array BioPharma (NASDAQ:ARRY). SunTrust Robinson Humphrey has a Buy rating on the shares. The rating by the firm was issued on June 3, 2016.

Array BioPharma (NASDAQ:ARRY): stock turned positive on Tuesday. Though the stock opened at $3.36, the bulls momentum made the stock top out at $3.49 level for the day. The stock recorded a low of $3.32 and closed the trading day at $3.43, in the green by 4.89%. The total traded volume for the day was 1,352,655. The stock had closed at $3.27 in the previous days trading.

In an insider trading activity,The director of Array Biopharma Inc, Baum Charles M sold 25,000 shares at $7.38 on May 8, 2015. The Insider selling transaction had a total value worth of $184,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 Companys 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.

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