Cowen & Co. analyst Chris Shibutani maintained a Buy rating on Array Biopharma (ARRY) today and set a price target of $22. The company’s shares opened today at $18.17.
According to TipRanks.com, Shibutani is a 2-star analyst with an average return of 0.0% and a 40.0% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Lexicon Pharmaceuticals, and Pieris Pharmaceuticals.
Currently, the analyst consensus on Array Biopharma is a Strong Buy with an average price target of $23, which is a 26.6% upside from current levels. In a report released today, Piper Jaffray also reiterated a Buy rating on the stock with a $28 price target.
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Based on Array Biopharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $24.81 million. In comparison, last year the company had a GAAP net loss of $34.05 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ARRY in relation to earlier this year.
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Array BioPharma, Inc. engages in the research, development, and commercialization of targeted small molecule drugs for the treatment of cancer and other high-burden diseases. Its portfolio includes Binimetinib, Selumetinib, Encorafenib, Filanesib, Ipatasertib, Varltinib, Danoprevir, ARRY-797, Larotrectinib, Tucatinib, ARRY-382, Motolimod, Prexasertib, GDC-0575, LOXO-292, LOXO-195, and AK-1830. The company was founded by Kevin Koch, Anthony Piscopio, K. C. Nicolaou, and David L. Snitman in 1998 and is headquartered in Boulder, CO.
