On June 20, Array BioPharma’s stock price grew 5.2% and reached $19.99 from its close of $19.0 the previous day. On June 20, Array BioPharma hit its 52-week high of $20.18.
On June 19, Array BioPharma’s stock price grew ~8.6% to ~$19.00 from its close of $17.50 on June 18.
On June 20, Array BioPharma’s stock price closed at $19.99, which represents ~180% growth from its 52-week low of $7.15 on August 3, 2017.
In June, Array BioPharma (ARRY) provided updated results from the phase 3 COLUMBUS trial. The trial evaluated the safety and efficacy of encorafenib and binimetinib in treating individuals with BRAF-mutant advanced melanoma.
In the COLUMBUS clinical trial, patients receiving the encorafenib and binimetinib combination therapy showed a median overall survival of 33.6 months—compared to 16.9 months for patients receiving Roche’s Zelboraf (vemurafenib) monotherapy. The encorafenib and binimetinib combination therapy demonstrated a two-year survival of 58%.
Previously, Array BioPharma reported that patients receiving the encorafenib and binimetinib combination therapy demonstrated PFS (progression-free survival) of 14.9 months—compared to 7.3 months for patients receiving vemurafenib. Array BioPharma noted that the updated median PFS remained consistent with the previously reported median PFS.
Of the eight analysts tracking Array BioPharma in June, three recommended a “strong buy,” while five recommended a “buy.”
On June 20, Array BioPharma had a consensus 12-month target price of $21.38, which represents an ~7% return on investment over the next 12 months.
Of the nine analysts tracking Halozyme Therapeutics (HALO) in June, ~44% recommended a “buy.” Among the 11 analysts tracking Aerie Pharmaceuticals (AERI), ~91% recommended a “buy.” Of 16 analysts tracking Intercept Pharmaceuticals (ICPT) in June, ~44% recommended a “buy.”
On June 20, Halozyme Therapeutics, Aerie Pharmaceuticals, and Intercept Pharmaceuticals had consensus 12-month target prices of $20.56, $82.3, and $106.69, respectively, which represents a return on investment of ~5.60%, ~24.9%, and ~25.3% over the next 12 months.
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