Jefferies Maintains Bullish View on Array BioPharma (ARRY) Following Update from Society for Melanoma Research

November 10, 2016 7:51 AM EST
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Price: $11.36 --0%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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Jefferies analyst Eun Yang reiterated a Buy rating and $8 price target on Array BioPharma (NASDAQ: ARRY) following an updates from the Society for Melanoma Research.

Yang commented, "Melanoma (MEL) is the most mutated cancer; thus, targeted therapy to specific mutations provides a compelling tx rationale. With similar efficacy to other targeted combo tx (reducing disease progression by ~45-50%), BINI/ENCO represents a new tx option for BRAFm MEL (~45% of MEL). Particularly, pts with high mutational burden, 1L use of MEKi/BRAFi seems warranted. For NRASm MEL (~15% of MEL), optimal tx sequence would be 1L immunotherapy followed by BINI."

For an analyst ratings summary and ratings history on Array BioPharma click here. For more ratings news on Array BioPharma click here.

Shares of Array BioPharma closed at $6.51 yesterday.

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