Cowen & Co. analyst Chris Shibutani reiterated a Buy rating on Array Biopharma (NASDAQ: ARRY) yesterday and set a price target of $22. The company’s shares closed yesterday at $15.04.
According to TipRanks.com, Shibutani is a 2-star analyst with an average return of 0.0% and a 34.7% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Pieris Pharmaceuticals, Nektar Therapeutics, and United Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Array Biopharma with a $24.50 average price target, a 62.9% upside from current levels. In a report released yesterday, Jefferies also maintained a Buy rating on the stock with a $19 price target.
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Based on Array Biopharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $52.45 million. In comparison, last year the company had a GAAP net loss of $37.99 million.
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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.
