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What Analysts Recommend for Array BioPharma Stock

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Analysts’ views on Array Biopharma

Array BioPharma (ARRY) announced its fourth-quarter and full fiscal 2018 results on August 14. That day, ARRY stock registered a decline of ~2.6% and fell further the following day. The decline in stock prices was triggered by the negative investor sentiments due to the Array BioPharma’s fourth-quarter results falling short of estimates. In this article, we’ll look at analysts’ latest recommendations and target prices on ARRY stock over the next 12 months.

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As per a Reuters survey on August 16, of the seven analysts covering Array BioPharma, three have a “strong buy” recommendation on ARRY stock, while the remaining four analysts gave “buy” recommendations for the stock. None of the analysts provided a “hold” or “sell” recommendation, which signals a strong bullish sentiment for ARRY stock despite its lower-than-expected results.

Target price

As of August 15, analysts’ target price for ARRY is $23.57, which implies a ~71.7% return over the next 12 months based on the stock’s August 14 price of $13.73. Peers Halozyme Therapeutics (HALO), Aerie Pharmaceuticals (AERI), and Intercept Pharmaceuticals (ICPT) have average target prices of $20.38, $83.80, and $123.07, respectively, which imply 19%, 30.3%, and 19.2% returns over the next 12 months.

In the next article, we’ll discuss Array Biopharma’s sales performance in the fourth quarter and full fiscal 2018.

Check out all the data we’ve added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data, as well as dividend information. Take a look!

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