Array BioPharma Analyst Report: Pipeline Acquisition from Industry Partner Opens New Doors Issued by BrokerBank Securities, Inc.

NEW YORK, Feb. 17, 2015 /PRNewswire/ -- Array BioPharma Inc. ARRY is a biopharmaceutical company, focusing on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer in North America, Europe, and the Asia Pacific. Array BioPharma Inc. was founded in 1998 with headquarter in Boulder, Colorado. The company's drug development pipeline includes clinical candidates that are designed to regulate therapeutically important target pathways. The company's drug candidates include AMG 151, MEK162, ARRY-380, ARRY-520, ARRY-543 and ARRY-614.

Array BioPharma stock has been enjoying a spectacular performance over the last 3 months. In term of volume, the stock has witnessed a colossal rise of 9.7% or 1,750,408 shares in its short figure. The short interest augmentation took it from 18,129,117 on January 15, 2015 to 19,879,525 on January 30, 2015. In term of price, the shares rose by 4.61% in the past week and 60.39% for the past 4 weeks. For the past week, the counter has outperformed the S&P 500 by 1.53% and the outperformance increases to 59.55% for the past 4 weeks. Despite the outstanding performance, some analysts suggest that the stock has an RSI value of 74.37, which indicates that the stock is in overbought territory and might have risen in value too quickly.

The main driver for this performance has been the firm's deal with Norvatis to buy worldwide rights to a potential cancer treatment in late-stage clinical testing from the Swiss pharmaceutical giant.

A detailed report of Array BioPharma, including analyst recommendation and price target is available below. There is no cost obligation to view the analyst brief and recommendation:

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SOURCE BrokerBank Securities, Inc.