Jefferies Maintains a 'Buy' on Array BioPharma (ARRY); Narrowing Loss; Phase 2 Data Driving Further Upside
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Price: $5.05 -2.32%
Rating Summary:
18 Buy, 14 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 14 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies maintains a 'Buy' on Array BioPharma (NASDAQ: ARRY) price target of $6.00.
Analyst, Eun Y. Yang, said, "Slightly narrower FY4Q12 net loss of $8M; ~$90M cash at end-FY12 should be sufficient into CY14 by our estimates. While current valuation is largely on ongoing partnership programs (e.g., selumetinib likely entering Ph3 in NSCLC by YE12 and Ph2 melanoma OS data possibly at ESMO (9/28-10/2)), early-stage proprietary programs & partnership opportunities (e.g., ARRY-797 for pain) will likely drive further long-term upside."
FY13 EPS estimate raised from (0.79) to (0.62) and FY14 from (0.75) to (0.64)
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 $4.87 yesterday.
Analyst, Eun Y. Yang, said, "Slightly narrower FY4Q12 net loss of $8M; ~$90M cash at end-FY12 should be sufficient into CY14 by our estimates. While current valuation is largely on ongoing partnership programs (e.g., selumetinib likely entering Ph3 in NSCLC by YE12 and Ph2 melanoma OS data possibly at ESMO (9/28-10/2)), early-stage proprietary programs & partnership opportunities (e.g., ARRY-797 for pain) will likely drive further long-term upside."
FY13 EPS estimate raised from (0.79) to (0.62) and FY14 from (0.75) to (0.64)
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 $4.87 yesterday.
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