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Fly News Breaks for June 17, 2019
ARRY
Jun 17, 2019 | 16:34 EDT
Goldman Sachs analyst Paul Choi raised his price target on Array Biopharma (ARRY) shares to $38 from $27 after Pfizer (PFE) announced plans to acquire the company for $48 per share in an all cash transaction. Choi noted that there is relatively limited overlap, given that Pfizer does not currently have targeted oncology assets in either of the melanoma and colorectal cancer indications Array is approved for or pursuing for the Braftovi/Mektovi combination. Choi maintains a Neutral rating on Array shares.