Information Provided By:
Fly News Breaks for March 20, 2017
ARRY
Mar 20, 2017 | 07:19 EDT
SunTrust analyst Peter Lawson cut his price target on Array after the company withdrew its application for FDA approval of its NRAS mutant melanoma drug, binimetinib, following a meeting with the FDA. The analyst says that the company believes that the data on the drug was not sufficient to support approval as a treatment for NRAS mutant melanoma. He lowered the chances of binimetinib's success as a treatment for mutated BRAF genes to 50% from 75% and consequently lowered his price target on the stock to $12 from $15.However, the analyst still believes that the company has at least two other potential positive catalysts and he keeps a Buy rating on the shares.
News For ARRY From the Last 2 Days
There are no results for your query ARRY
Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.