Somewhat Critical News Coverage Somewhat Unlikely to Affect Array BioPharma (ARRY) Share Price

News headlines about Array BioPharma (NASDAQ:ARRY) have been trending somewhat negative recently, Accern Sentiment reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Array BioPharma earned a coverage optimism score of -0.01 on Accern’s scale. Accern also assigned news headlines about the biopharmaceutical company an impact score of 43.2087315583273 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:

Shares of Array BioPharma (NASDAQ:ARRY) traded down $0.79 during trading on Monday, hitting $14.09. The stock had a trading volume of 4,231,351 shares, compared to its average volume of 4,230,000. The company has a market cap of $2,780.00, a price-to-earnings ratio of -19.04 and a beta of 2.03. Array BioPharma has a 12-month low of $6.73 and a 12-month high of $16.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 5.43.

Several brokerages have recently commented on ARRY. Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 price objective on shares of Array BioPharma in a research report on Sunday, January 21st. Leerink Swann upgraded Array BioPharma from a “market perform” rating to an “outperform” rating in a research report on Monday, January 22nd. Stifel Nicolaus increased their price objective on Array BioPharma from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Zacks Investment Research lowered Array BioPharma from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Finally, Jefferies Group increased their price objective on Array BioPharma to $13.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.11.

In related news, CEO Ron Squarer sold 819,671 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total transaction of $8,901,627.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Haddock sold 7,500 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $13.73, for a total value of $102,975.00. Following the sale, the chief financial officer now owns 36,368 shares of the company’s stock, valued at $499,332.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,131,545 shares of company stock valued at $12,315,221 over the last 90 days. 3.18% of the stock is currently owned by company insiders.

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About Array BioPharma

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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