Array BioPharma (ARRY) PT Raised to $8 at Jefferies
- Wall Street hits new high as post-election rally roars ahead
- ECB to scale back asset buys as it extends to end-2017
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Oil rises above $50 despite doubts over OPEC output cut
- Pre-Open Stock Movers 12/08: (VYGR) (TLRD) (LULU) Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Jefferies analyst Eun Yang reiterated a Buy rating and raised his price target on Array BioPharma (NASDAQ: ARRY) to $8.00 (from $7.00) following successful Phase 3 COLUMBUS results yesterday.
Yang commented, "Given historical MEKi/BRAFi combo data in BRAFm melanoma, positive Ph3 COLUMBUS data is not a surprise. However, strong PFS benefits with BINI/ENCO combo (vs. prior studies) is a nice surprise (albeit not a head-to-head study), clearly demonstrating adding MEKi to BRAFi augments PFS benefits to BRAFi alone. With BINI under FDA review & BINI/ENCO filings in 2017, ARRY would potentially have two drugs on market for melanoma by early 2018."
Shares of Array BioPharma closed at $6.61 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades Timken (TKR) to Hold
- Jefferies Downgrades SL Green Realty (SLG) to Hold
- UPDATE: Stifel Downgrades EMCOR Group (EME) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!