Wells Fargo Says Outside Interest in Multiple Myeloma Space a Positive for Array Biopharma

Array Biopharma

shares are up over 5 percent in Monday's afternoon session as the earlier Amgen

, Onyx

bid and the Celgene

MorphoSys partnership signals significant interest in the multiple myeloma space, according to Wells Fargo's Matthew Andrews. The analyst believes Array's ARRY-520 is an under-appreciated asset in this field. Andrews maintains an Outperform rating on shares of Array Biopharma.