Somewhat Favorable News Coverage Somewhat Unlikely to Impact Array BioPharma (NASDAQ:ARRY) Stock Price

News articles about Array BioPharma (NASDAQ:ARRY) have been trending somewhat positive this week, Accern reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Array BioPharma earned a news sentiment score of 0.13 on Accern’s scale. Accern also assigned media stories about the biopharmaceutical company an impact score of 46.2267096539719 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

These are some of the headlines that may have impacted Accern’s rankings:

Shares of Array BioPharma (NASDAQ:ARRY) opened at 8.77 on Friday. The stock’s market cap is $1.50 billion. The stock has a 50 day moving average price of $8.27 and a 200 day moving average price of $9.00. Array BioPharma has a 12 month low of $3.10 and a 12 month high of $13.40.

Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.04. Array BioPharma had a negative net margin of 77.44% and a negative return on equity of 1,187.18%. The business had revenue of $33.80 million for the quarter, compared to analyst estimates of $28.64 million. During the same quarter last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was down 21.8% on a year-over-year basis. Equities analysts anticipate that Array BioPharma will post ($0.97) EPS for the current fiscal year.

Several brokerages have weighed in on ARRY. Piper Jaffray Companies set a $14.00 target price on Array BioPharma and gave the company a “buy” rating in a research note on Wednesday, May 31st. Stifel Nicolaus restated a “buy” rating and issued a $13.00 price target on shares of Array BioPharma in a research note on Thursday, August 10th. J P Morgan Chase & Co upgraded Array BioPharma from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $9.00 to $10.00 in a research report on Wednesday, May 3rd. BidaskClub lowered Array BioPharma from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded Array BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Array BioPharma has an average rating of “Buy” and an average price target of $11.54.

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Array BioPharma Company Profile

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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