It’s A Great Day To Buy Array BioPharma Inc. (ARRY) on the Dip
Array BioPharma Inc. (NASDAQ:ARRY) stock is presently standing at about $8.65 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 9 analysts covering the company is $13.00, which suggests the stock could still rise over 33 percent. The highest analyst price target is $15.00, which implies a rally of 27 percent. And a quick view of analyst notes show that 4 are rating the stock a buy while 3 rate ARRY a strong buy. There are 2 equity research firms advocating a Hold and 0 consider it Sell.
JP Morgan analysts provided their view on Array BioPharma Inc. (NASDAQ:ARRY) recently. The rating firm issued a Overweight rating to this company in a research note released on May 03, 2017. JP Morgan analysts disclosed their opinion on Array BioPharma Inc. (NASDAQ:ARRY) recently. The rating firm gave a Neutral rating to this stock in a research note published on Feb 03, 2017. According to a research note disclosed on Jan 30, 2017, analysts at Leerink Partners have lowered their rating on these shares from Outperform to Mkt Perform.
Array BioPharma Inc. (NASDAQ:ARRY) Transactions Roundup
Several insiders were part of recent insider activity for the stock. Its Director LEFKOFF KYLE Sold 6,585 company shares for 401,400, in a transaction on Mar 31. Following the transaction, the Director is left with a stake of 45,000 shares, currently valued at $389,250. Meanwhile, Director BAUM CHARLES M sold 5,000 shares worth $231,750, through a transaction dated Mar 28. Following the completion of the transaction, the insider is left with a stake of 25,000 shares, amounting $216,250. ARRY 10% Owner Redmile Group, LLC also sold 16,658,072 shares, at a stock price of $6.36. This transaction occurred on Sep 28 totals $15,852,796. After this transaction, the insider’s stake stands at 2,492,578 shares, with a market value of $21,560,800.
Executives hold 1.63 percent of the stock. FMR LLC is one of the biggest insider owners in Array BioPharma Inc. (NASDAQ:ARRY), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 23,275,836 shares which have current market value of around $201,335,981.VANGUARD GROUP INC is another major inside shareholder in the company. The insider owns 16,993,415 shares as of 03/31/2017, currently worth $146,993,040. ORBIMED ADVISORS LLC is ranked as third insider holder of the stock. This insider holds 14,182,900 shares with a market value around $122,682,085 as of recent close.
Array BioPharma Inc. (NASDAQ:ARRY) Earnings Outlook
In Array BioPharma Inc. (NASDAQ:ARRY)’s latest quarter, EPS moved to $-0.21 from $-0.14 in preceding quarter and revenues reached at $33.28M compared to $44.52M. Analysts had expected Array BioPharma Inc. (NASDAQ:ARRY) to post net income of about $-0.16 per share on $36.99M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in the range of $-0.31 to $0.08. That is compared with the $-0.17 in EPS it reported during the same period a year ago.