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Fly News Breaks for August 9, 2016
AZN, ARRY
Aug 9, 2016 | 09:42 EDT
Piper Jaffray analyst Edward Tenthoff lowered his price target for Array Biopharma (ARRY) to $7 after the company's partner AstraZeneca (AZN) reported that the Phase III SELECT-1 trial of selumetinib failed in KRAS-mutant lung cancer. The analyst points out that while the indication could have brought in a nice royalty stream for Array, he's more confident in the Phase III COLUMBUS trial of wholly-owned binimetinib+encorafenib in BRAF-mutant melanoma reporting out this quarter. He keeps an Overweight rating on Array.
News For ARRY;AZN From the Last 2 Days
AZN
Apr 25, 2024 | 05:52 EDT
Consensus $4.56. Backs FY24 revenue view up low double-digit to low teens percentage, consensus $50.95B. Sees FY24 core tax rate 18%-22%.
AZN
Apr 25, 2024 | 05:49 EDT
ARRY
Apr 24, 2024 | 11:02 EDT
Wells Fargo notes that a group of seven domestic solar product makers, including First Solar (FSLR), filed a petition to levy anti-dumping and countervailing duties on solar imports from Cambodia, Malaysia, Thailand and Vietnam, looking for duties ranging from 70.4% to 271.5%. The firm, which included the "important reminder" that "this is just a petition," says the uncertainty created by the petition is "incrementally positive" for First Solar and negative for Canadian Solar (CSIQ), Array Technologies (ARRY) and Nextracker (NXT).
