Cowen & Co. analyst Chris Shibutani reiterated a Buy rating on Array Biopharma (NASDAQ: ARRY) today and set a price target of $22. The company’s shares opened today at $14.50.
According to TipRanks.com, Shibutani is a 4-star analyst with an average return of 9.3% and a 41.3% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Pieris Pharmaceuticals, Nektar Therapeutics, and United Therapeutics.
Array Biopharma has an analyst consensus of Strong Buy, with a price target consensus of $24.20, representing a 66.9% upside. In a report released today, Piper Jaffray also reiterated a Buy rating on the stock with a $25 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 $22.85 million. In comparison, last year the company had a GAAP net loss of $29.59 million.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. Last month, Kyle Lefkoff, a Director at ARRY sold 50,000 shares for a total of $872,500.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Array BioPharma, Inc. engages in the research, development, and commercialization of pharmaceutical products. Its portfolio includes Binimetinib, Selumetinib, Encorafenib, Filanesib, ONT-380 (ARRY-380), ARRY-797, Ipatasertib, Motolimod, Danoprevir, ARRy-614, GDC-0994, and LOXO-101. Its drugs focuses on the treatment of cancer and inflammatory diseases.
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