Array BioPharma (ARRY) Getting Somewhat Favorable Press Coverage, Report Shows
Media coverage about Array BioPharma (NASDAQ:ARRY) has trended somewhat positive this week, according to Accern Sentiment. Accern identifies positive and negative news coverage by monitoring more than 20 million blog and news sources. 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 coverage optimism score of 0.19 on Accern’s scale. Accern also assigned media headlines about the biopharmaceutical company an impact score of 45.5906713628641 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the news stories that may have effected Accern’s scoring:
- The Klein Law Firm Reminds Shareholders of a Class Action on Behalf of Array Biopharma Inc. Shareholders and a Lead Plaintiff Deadline of January 22, 2018 (ARRY) (finance.yahoo.com)
- Turning Focus Towards Under Armour, Inc. (UA) and Array BioPharma Inc. (ARRY) Technicals – Market Movers (financialqz.com)
- Array BioPharma launches spinoff to develop drugs for rare diseases – BizWest Media (bizwest.com)
- Array BioPharma Inc. (ARRY) Endeavor to Hijack Street on Volatility Facts – Stock News Stop (stockmarketstop.com)
- Technical Analysis of Array BioPharma Inc. (NASDAQ:ARRY) – The Oracle Examiner (oracleexaminer.com)
Shares of Array BioPharma (NASDAQ:ARRY) traded up $0.24 during midday trading on Thursday, hitting $12.97. The company had a trading volume of 1,692,156 shares, compared to its average volume of 3,814,163. The company has a market cap of $2,520.00, a PE ratio of -17.53 and a beta of 1.92. Array BioPharma has a 1-year low of $6.73 and a 1-year high of $13.40. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54.
ARRY has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of Array BioPharma in a report on Friday, September 8th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $14.00 target price on shares of Array BioPharma in a report on Monday, September 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $15.00 target price (up previously from $13.00) on shares of Array BioPharma in a report on Monday, September 11th. Cowen reiterated an “outperform” rating and issued a $15.00 target price (up previously from $14.00) on shares of Array BioPharma in a report on Monday, September 11th. Finally, Jefferies Group reiterated a “buy” rating and issued a $9.00 target price on shares of Array BioPharma in a report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Array BioPharma currently has a consensus rating of “Buy” and an average target price of $14.10.
In related news, COO Andrew R. Robbins sold 282,874 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $10.72, for a total value of $3,032,409.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kyle Lefkoff sold 38,865 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $12.31, for a total value of $478,428.15. Following the completion of the sale, the director now directly owns 51,585 shares of the company’s stock, valued at approximately $635,011.35. The disclosure for this sale can be found here. In the last three months, insiders sold 1,141,410 shares of company stock valued at $12,412,464. 3.18% of the stock is currently owned by company insiders.
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About Array BioPharma
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).
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