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Fly News Breaks for December 17, 2015
ARRY
Dec 17, 2015 | 08:08 EDT
Leerink analyst Michael Schmidt lowered his price target for Array BioPharma to $6 after the company reported positive Phase III data from its trial of binimetinib. The analyst keeps an Outperform rating on the name ahead of "several" additional near-term Phase III data readouts. His lowered price target reflects the "growing competitive landscape" in melanoma and are non-small cell lung cancer.