In a report released today, Chris Shibutani from Cowen & Co. maintained a Buy rating on Array Biopharma (ARRY), with a price target of $25. The company’s shares opened today at $21.83.
According to TipRanks.com, Shibutani is a 3-star analyst with an average return of 1.1% and a 42.3% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Five Prime Therapeutics, and Pieris Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Array Biopharma with a $30 average price target, implying a 37.4% upside from current levels. In a report issued on May 7, Guggenheim also maintained a Buy rating on the stock with a $36 price target.
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Based on Array Biopharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $37.49 million. In comparison, last year the company had a GAAP net loss of $22.85 million.
Based on the recent corporate insider activity of 49 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.
