JPMorgan analyst Anupam Rama raised his price target for Array BioPharma to $29 from $18 and reiterates an Overweight rating on the shares. The analyst believes the company's fundamentals "remain very solid." The Braftovi / Mektovi launch in BRAF melanoma has exceeded expectations and the interim Phase 3 Beacon study has a high probability of success, Rama tells investors in a research note. Further, the analyst says recent conversations with physicians have reinforced his positive views on Braftovi / Mektovi in melanoma. He sees a favorable risk/reward into the Phase 3 Beacon study.